Niwas Expands with EQT Backing
Deal News | Jul 17, 2025 | EQT
EQT has completed the acquisition of Niwas Housing Finance, formerly known as IndoStar Home Finance, from IndoStar Capital Finance Limited. Niwas is recognized as a fast-growing affordable housing finance company in India, with assets under management (AUM) of INR 30 billion (USD 359 million) as of March 2025. EQT plans to invest INR 5 billion (USD 58 million) in Niwas as growth capital to expand its geographical footprint and digital capabilities. This move aligns with EQT's strategic focus on India's financial services sector, which is poised for growth due to the country's expanding middle class and the rising demand for accessible financial solutions. Niwas aims to leverage EQT's digitalization expertise and market strategies to scale profitably and responsibly, with a goal of assisting 150,000 families to achieve homeownership by 2029. With a strong management team and a newly formed board, Niwas is set to capitalize on India’s robust housing finance market, driven by urbanization and government support for affordable housing.
Sectors
- Financial Services
- Real Estate
Geography
- India – The acquisition targets India's booming housing finance market and highlights the potential for geographical expansion across the country.
Industry
- Financial Services – EQT's acquisition of Niwas Housing Finance, which provides affordable housing finance solutions, falls under the broader financial services industry, emphasizing lending and financial inclusion.
- Real Estate – The focus on affordable housing loans positions the article's content within the real estate industry, particularly in the housing finance sector.
Financials
- INR 30 billion (USD 359 million) – Assets under management for Niwas Housing Finance as of March 2025.
- INR 5 billion (USD 58 million) – Growth capital to be invested by EQT in Niwas Housing Finance.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| EQT | Buyer | Company | A global investment organization focusing on sustainable growth and operational excellence. |
| Niwas Housing Finance | Target Company | Company | An affordable housing finance company in India with assets under management focused on serving low-income households. |
| IndoStar Capital Finance Limited | Seller | Company | The previous owner of Niwas Housing Finance, which was acquired by EQT. |
| BPEA EQT Mid-Market Growth Partnership | Acquisition Fund | Company | A fund within EQT committed to investing in mid-market growth opportunities. |
| K.R. Kamath | Chairperson | People | Chairperson of the new Board of Niwas Housing Finance. |
| Hemant Sharma | EQT Advisory | People | Partner in the EQT Private Capital Asia advisory team. |
| Shreejit Menon | CEO | People | CEO of Niwas Housing Finance. |