PROJECT

Projects

Summary of Investment Information

Project Number

33320

Company Name

DEWAN HOUSING FINANCE CORPORATION LIMITED

Date SPI Disclosed

Feb 7, 2013

Country

India

Region

South Asia

Projected Board Date

Mar 15, 2013

Environmental Category

FI-3 - No Impact

Status

Completed

Last Updated Date

Jun 12, 2021

Department

Regional Industry - FIG Asia & Pac

Industry

Financial Markets

Previous Events

Approved : Mar 20, 2013
Signed : Mar 29, 2013
Invested : Mar 28, 2014

Sector

Primary Mortgage Institutions

Additional Project Attributes

Blended Finance

Project Description

The proposed project would involve a Senior loan of up to US$70 mn to DHFL, subject to required approvals from RBI. The project will also involve, subject to required approvals from RBI, a co-investment from the Canada Climate Change Program (CCCP) where IFC will act as implementing entity for CCCP to support climate change investments. The project is intended to support the DHFL in growing its assets, increasing its reach and improving its market share.

Established in 1984, Dewan Housing Finance Corporation Limited (DHFL) is the second largest private housing finance company in India today. It was the second housing finance company to be set up in the private sector in India, and its stated business objective is to enable access to affordable housing finance to the lower and middle income groups in India. DHFL offers both housing loans (house purchase, construction, extension and project loan) and non housing loans (loan against property, lease rental financing, and purchase of commercial premises).

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation