Advent Invests $304 Million in Aditya Birla Housing Finance
US private equity firm Advent International is investing 27.5 billion rupees ($304 million) in Aditya Birla Housing Finance Ltd., increasing its exposure to India’s fast-growing mortgage market.
The transaction will give Advent a 14.3% stake in the Aditya Birla unit, valuing it at 192 billion rupees, the firms said in a statement. Advent previously held a stake in parent company Aditya Birla Capital, which it exited in October after making a significant return on its initial investment of 10 billion rupees.