Kajal Ilmi, founder-cum-managing director, told ET that Japan’s Gojo-backed Aviom, with Rs 990 crore in loan assets, is in talks with a global pension fund and a domestic private equity fund for fresh capital infusion.
Aviom India Housing Finance Share Sales Benifits
Aviom India Housing Finance, a New Delhi-based granter focused on financing small accommodation units, is increasing by 30 million dollars by share sales.
The new investor will get a 30% hold up for a 30-million-dollar investment, valuing the six-year-old granter approximately 800 crores.
This fund will be used for onward lending as the company aims to grow its loan assets to Rs 1,300 crore by March 2023 and Rs 2,500 crore by March 2024, Ilmi said.
This lender offers loans to women, mainly in the rural areas, without demanding formal income documents or certificates. Its median lending ticket is about Rs 2.7 lakh.
Sabre Partners AIF Trust and Capital 4 Development Asia Fund Cooperative UA hold up 12.8% and 7.43%, while Gojo & Co currently owns 39% in Aviom, respectively. Promoters led by Kajal Ilmi hold up 38.7%.
Aviom India Housing Finance Providing Bank Loan
Kajal Ilmi said we have been providing loans to women lenders without formal income certificates or documents. Affordable bank loans enabled women to build houses they could, couldn’t afford, and establish a credit history.
Aviom looks to raise its expenditure to Rs 70 -80 crore a month in the next six months.
Aviom India Housing Finance works in more than ten states through 120-odd branches and has a customer base of more than 39,000.
Ilmi added we want to serve more people in low-income households across semi-urban and backward areas who need home loans for modernization, home improvements, and cleanliness.
Besides the State Bank of India, HDFC Bank, and other local organizations, the US International Development Finance Corporation (DFC), Water Equity Impact Investment, Triple Jump Impact Investment, Blue Orchard Impact Investment, and Symbiotics Investment are Aviom’s bankers,
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