Poonawalla Housing rebrands as Grihum, plans listing

Mumbai: Poonawalla Housing Finance on Tuesday rebranded itself as Grihum Housing Finance following the change in ownership with US-based private equity firm TPG Capital acquiring 99% equity in the company. The acquisition was completed in July. The mortgage lender with focus on affordable housing loans is planning to access the capital market for raising around ₹2,500 crore in various debt instruments, managing director Manish Jaiswal said.

"We are focusing on building ourselves now, and a listing will come to play in the next three to four years," he said.

The lender has achieved ₹7,500 crore of AUM from ₹5,600 crore as on September 2022. With most customers coming from the lower middle-class background, 85% of its loans are below ₹25 lakh. Its customer base rose to over 75,000, served by a network of 195 branches across the country. "We have delivered an AUM growth at 28% CAGR over the last 6 years and given the tailwinds in the economy, we expect similar growth momentum in years to come," Jaiswal said.