Shubham Housing Development Finance, one of India’s leading affordable housing lenders, has completed a $96 million secondary transaction led by private equity firm Creador, with participation from existing investor LeapFrog Investments and others.
The deal allowed early investors to cash out, per a release on Thursday.
The Gurugram-based lender has scaled rapidly over the years and reached about Rs 7,500 crore ($825 million) in assets under management as of December 2025, supported by rising demand for affordable housing finance among India’s emerging middle class. A recent ratings upgrade to AA- by India Ratings underscores its growing credibility, it said.
Shubham operates 200 branches across 12 states and focuses on enabling first-time homeownership for families lacking traditional income documentation or credit history. The company is also a leader in women-focused lending, with 93% of borrowers being women, supported by products aimed at enhancing financial security and long-term household well-being.
“We are excited to partner with the exceptional team at Shubham Housing and join its distinguished investor base,” said Robin Agarwal, Executive Director at Creador. “The company has built a strong platform to address housing finance needs in underserved segments.”
Sanjay Chaturvedi, Founder and MD of Shubham Housing, added that the transaction would help the company accelerate its growth and scale impact.
Avendus acted as an exclusive financial advisor.
