Japanese-backed Satya MicroCapital to finance affordable housing

Satya MicroCapital, backed by Japanese impact investor Gojo & Company Inc, has announced its entry in the affordable housing finance market through a soon to be launched subsidiary. The New Delhi-based microlender is also extending capital of Rs 50 crore to its subsidiary and will raise an additional Rs 500-750 million capital in the current fiscal year. Post the successful acquisition and renaming of Baid Housing Finance, the NBFC-MFI intends to lay the foundation of its new arm which will integrally function in the Indian housing finance space. Satya MicroCapital plans to serve the need for affordable housing for its current customer base and to cater to the untapped affordable housing market across the country, a company statement said. See also: Centre to suspend new PMAY (Urban) projects for a yearATS HomeKraft bags affordable housing award for Noida project