New Delhi, May 11 -- Aadhar Housing Finance Ltd, the Indian mortgage lender majority owned by private equity giant Blackstone, has tapped an offshore investor to raise fresh capital.

The non-bank lender will use the funding to provide loans to people in economically weaker sections, lower income groups, and middle-income groups, including women borrowers, to help them buy or build houses.

The company is set to secure up to $50 million (about Rs 476 crore) from International Finance Corporation (IFC) via a senior secured loan. The loan's tenor is up to seven years, according to a disclosure.

Mumbai-listed Aadhar Housing will also use a portion of the proceeds to finance targeted borrower groups in Uttar Pradesh.

Incorporated in 2010, the housing finance company focuses on the low-income segment with a ticket size of less than Rs 15 lakh. The company operates 626 branches across 22 states and union territories.

Blackstone had acquired a controlling stake in Aadhar Housing Finance in 2019-20, from Dewan Housing Finance, Kapil Wadhawan and his Wadhawan Global Group and other equity investors including IFC. The world's largest alternative investment manager took Aadhar Housing public in 2024 and sold part of its stake for Rs 2,000 crore. It currently owns a 64.9% stake in the lender.

The non-bank lender offers a range of mortgage-related products, including loans for buying and constructing residential properties, home improvement and extension, and micro loans against property.

The company's net profit rose to Rs 1,108 crore in the financial year ended March 2026 from Rs 912 crore the year before, aided by loan book growth. Assets under management rose to Rs 30,571 crore as of March 31 from Rs 25,531 crore a year ago. The non-bank lender clocked disbursements of Rs 9,556 crore in FY26.

IFC is the private-sector investment arm of the World Bank Group, and has provided debt capital to various Indian companies in the past 12 months. In February, for instance, it lent around $50 million to SBFC Finance.

Published by HT Digital Content Services with permission from VC Circle.