Mumbai: EQT has completed its acquisition of Niwas Housing Finance Limited (formerly IndoStar Home Finance) through its BPEA EQT Mid-Market Growth Partnership (MMG Fund), further strengthening its strategic investment focus on India’s rapidly growing financial services sector.
The transaction includes a planned infusion of ₹5 billion (USD 58 million) in growth capital to enhance Niwas’ geographic footprint and digital infrastructure.
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Niwas Housing Finance: Affordable Housing Finance Company
Founded in 2017, Niwas Housing Finance has emerged as one of India’s fastest-growing affordable housing finance companies.
With over ₹30 billion (USD 359 million) in assets under management (as of March 31, 2025), the company has already enabled homeownership for more than 47,000 low-income families and small businesses across Tier 2 to Tier 4 cities. Niwas focuses on providing secured, retail mortgages that promote financial inclusion.
India’s ₹30 trillion housing finance market continues to expand due to urbanization, supportive government policies, and a growing middle class. This sector has demonstrated resilience across economic cycles, making it a key pillar in EQT’s long-term India investment strategy.
The acquisition of Niwas follows EQT’s earlier investment in Credila, an education-focused NBFC, reinforcing its commitment to inclusive lending platforms.
K R Kamath, Chairperson, Niwas Housing Finance: “With a newly reconstituted Board, Niwas is well-positioned to responsibly scale and broaden access to homeownership in India.”
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Hemant Sharma, Partner, EQT Private Capital Asia: “The acquisition of Niwas deepens our commitment to India’s retail lending space. We aim to accelerate Niwas’ expansion, digitalisation, and governance through active ownership.”
Shreejit Menon, CEO, Niwas Housing Finance: “Partnering with EQT aligns with our vision to support 150,000 families in owning homes by 2029. Their expertise will be instrumental in strengthening our performance and impact.”
EQT’s in-house capabilities in digital enablement, sustainability, and go-to-market strategies are expected to accelerate Niwas’ transformation into a leading, customer-centric housing finance institution in India.
