Private equity firm Advent International will invest Rs 2,750 crore (about $305 million) in Aditya Birla Housing Finance Ltd, the mortgage lending arm of Aditya Birla Capital Ltd.
The transaction values Aditya Birla Housing at Rs 19,250 crore ($2.13 billion) on a post-money basis, according to a press release.
Upon completion of the transaction, Aditya Birla Capital will hold about 85.7% and Advent will hold about 14.3% stake in the mortgage lender.
The deal marks Advent’s return to the Kumar Mangalam Birla-led Aditya Birla Group. In 2019, the PE firm had invested Rs 1,000 crore in Aditya Birla Capital. It exited the financial services company last year. Also, in 2024, Advent teamed up with Multiples PE to invest in Svatanra Microfin, led by Kumar Mangalam Birla’s daughter Ananya Birla.
Shweta Jalan, managing partner at Advent International, said that India’s mortgage market is benefiting from strong structural tailwinds, led by supportive government initiatives and a constructive regulatory framework.
“Against this backdrop, Aditya Birla Housing has built a high-quality, trusted franchise with strong risk practices and governance standards that are synonymous with Aditya Birla Group companies. We have strong conviction in the leadership team and are delighted to support them as the Company enters its next phase of growth,” Jalan said.
Aditya Birla Housing plans to utilize the capital to sustain its growth momentum and increase market share. The lender’s assets under management grew by a compound annual rate of 48% over the last three years to Rs 42,204 crore as of December 31, 2025. Its gross stage 3 ratio was 0.54% and net stage 3 ratio was 0.23%, indicating strong asset quality.
Vishakha Mulye, MD and CEO at Aditya Birla Capital, said the company has “significantly scaled” its businesses over the last few years and built a full-stack housing finance franchise with a strong focus on prime and affordable segments, and construction finance.
“This growth has been anchored in large market opportunities and sustained investments in technology, digital platforms, distribution, and talent enabling a scalable and resilient operating model. With this proposed capital raise, we enter the next phase of expansion for our housing finance business with a clear focus on sustaining growth momentum and increasing market share,” she said.​
Advent has been active in India for more than 15 years. It has invested in at least 17 companies, including Bharat Serums, Manjushree Technopack, and Aditya Birla Capital. It struck an exit from Bharat Serums in 2024 through a $1.6-billion deal with Mankind Pharma and later sold Manjushree Technopack to buyout firm PAG.
The PE firm sold its remaining 2% stake in Aditya Birla Capital late last year for Rs 1,638 crore ($185.5 million then), just months after it offloaded a 1.8% stake in the Mumbai-listed company for Rs 1,135.6 crore. The exit helped Advent generate benchmark returns on its investment.
​Advent’s India portfolio also includes YES Bank, fintech firm Kreditbee, consumer durables maker Eureka Forbes, Cohance Lifesciences, and analytics firm Tredence.
