<article><a href="http://dealstreetasia.com/tag/iifl" target="_blank" rel="noopener">IIFL India Private Equity Fund</a> has invested Rs 100 crore ($13.5 million) in non-banking finance company KadaiEshwar (KE) Housing Finance, according to an official statement.</article>

<a href="http://dealstreetasia.com/tag/iifl" target="_blank" rel="noopener">IIFL India Private Equity Fund</a> has invested Rs 100 crore ($13.5 million) in non-banking finance company KadaiEshwar (KE) Housing Finance, according to an official statement.
While the details of the deal were not disclosed <a href="https://economictimes.indiatimes.com/news/company/corporate-trends/iifl-buys-controlling-stake-in-kadaieshwar-housing-finance-for-rs-100-crore/articleshow/66210329.cms" target="_blank" rel="noopener">a source-based report</a> in The Economic Times stated that IIFL has acquired 75 per cent stake in the company.
&#8220;The funds raised in this round will help KE Housing Finance apply for a Housing Finance Company license from National Housing Bank, initiate operations, and establish a strong base over the next couple of years, targeting around 30 locations,&#8221; the company said.
As per the news report, The NBFC, which was founded by former Can Fin managing director C Ilango, is likely to hit the market by January 2019.
KE Housing Finance will focus primarily on low-income households with combined monthly family incomes of around Rs 25,000, starting with southern India, where Ilango has extensive on-ground experience, and gradually expanding into pan India.
Unitus Capital acted as the exclusive financial advisor to KE Housing Finance for this transaction.
Earlier this year, IIFL Asset Management Ltd (IIFL AMC) launched its latest fund, IIFL India Private Equity Fund, with a focus on backing professional entrepreneurs, and a target of raising around Rs1,500-2,000 crore.
Amit Shah, chief executive at IIFL Asset Management Business, had earlier said that the fund would focus on sectors such as financial services, consumer, healthcare and technology.
Another NBFC, Chokhani Securities, was recently reported to have raised Rs112 crore through a qualified institutional placement (QIP). The company, which was acquired by former Religare Enterprises CEO Shachindra Nath last December, will start its lending operations from January 2019. It will focus on select sectors and target small and medium enterprises.
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IIFL India Private Equity Fund has invested Rs 100 crore ($13.5 million) in non-banking finance company KadaiEshwar (KE) Housing Finance

IIFL's PE arm invests $13.5m KadaiEshwar Housing Finance

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IIFL's PE arm invests $13.5m KadaiEshwar Housing Finance

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