CDC invested $28 million of long-term debt in the company at a time when the industry was facing a challenging liquidity environment. The financing will enable the company to grow its affordable housing finance business.
Aavas serves primarily, low and middle-income self-employed customers to fulfill their home financing requirements. These customers, who make up a large proportion of India’s population, have limited or no access to formal banking credit due to lack of credit score or proven credit history. Aavas focuses on regions with very limited penetration of formal housing finance institutions and banks, and has significant presence in the poorest Indian states.
Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.
- South Asia
We have seven priority sectors. However, we continue to invest outside these sectors, largely in the most challenging regions, as new investment supporting any sector helps to underpin the private sector, and create jobs and livelihoods for people.
- Financial services
- Investment type
We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).
- Direct Debt
- Start date
For direct investments, this is the date CDC committed capital to the business or project.
For funds, this is the date that CDC committed capital to the fund.
For underlying fund investments, this is the date that the fund invested capital into the business.e
- December 2018
For direct investments, this is the total amount that CDC has committed to the business or project (it may be a combination of equity and debt).
For funds, this is the total amount that CDC has committed to the fund.
This is the investee company’s place of incorporation; or a fund’s jurisdiction.