Basic Home Loan raises $4.7 million in pre-Series B

16 Jun 2023 CW Team

A pre-Series B funding round for the fintech business Basic Home Loan, an online mortgage broker, saw an equity investment of $4.7 million.

Equity investor Ashish Kacholia took the lead in the round, and previous backers Gruhas and Venture Catalysts increased their investment.

Additionally participating were new investors Dexter Angels, IIM Indore Alumni Angel Fund, and CommsCredible Venture Fund. The money generated will be use creating a proof of concept for Basic's lending arm as well as expanding Basic's distribution network into new areas.

According to a statement released by the company, Atul Monga, CEO and co-founder of Basic Home Loan, emphasised the company's substantial success in digitising mortgages, with its tech-enabled distribution handling almost 30,000 million applications nationally each month. The business is present in 650 districts and has a network of 7,500 agents. The company's principal investors include Picus Capital, Gruhas, Venture Catalysts, 9Unicorns, Earlsfield Capital, and Good Capital.

Basic Home Loan plans to launch its own lending arm, introduce cutting-edge solutions for underserved areas, and lead the credit industry's digital revolution after achieving EBITDA profitability in March 2023. Monga emphasised the need for a successful proof of concept to be delivered by FY2024 in order to facilitate effective scaling and balance sheet risk management.

Infrastructure Transport

01 Jun 2026

MMRDA advances 250 m on Orange Gate–Marine Drive tunnel

The Mumbai Metropolitan Region Development Authority (MMRDA) has completed 250 m of underground tunnelling for the Orange Gate–Marine Drive Urban Road Tunnel using India’s largest slurry shield tunnel boring machine (TBM) deployed for an urban road project.The project involves twin tunnels extending over 7 km beneath critical transport corridors, including Central Railway, Western Railway and Metro Line 3. The work requires high-precision engineering to navigate densely developed urban infrastructure.Once completed, the tunnel is expected to reduce travel time between Orange Gate and Marin..

Hindustan Zinc Pays Rs 188.46 Billion in FY26

Hindustan Zinc contributed Rs 188.46 billion to the public exchequer in FY 2025-26, according to its 9th Tax Transparency Report. The contribution, equivalent to 46 per cent of the company’s revenue, included direct and indirect taxes, government royalties, dividends to the Government of India, withholding taxes and other statutory levies.The company’s five-year cumulative contribution to the exchequer stood at Rs 915.72 billion. In FY26, Hindustan Zinc reported revenue of Rs 408.44 billion, EBITDA of Rs 221.62 billion and profit after tax of Rs 138.32 billion. It also achieved its highest..

World of Concrete India 2026 Opens in Mumbai

Informa Markets in India will host the 12th edition of World of Concrete India 2026 from 3–5 June 2026 at the Bombay Exhibition Centre, Mumbai. The specialised B2B exhibition will bring together manufacturers, suppliers, contractors, developers, architects, consultants, infrastructure companies, project leaders and government stakeholders.The event is expected to feature over 350 brands and more than 18,000 trade professionals. It will cover concrete and cement, dry mortar, precast technologies, formwork, construction chemicals, industrial and commercial flooring, scaffolding, safety solutio..