Vastu Housing Finance (Vastu) has completed a fund raising from Aditya Parekh and Sameer Shroff's Faering Capital. The deal included a secondary sale between Multiples Alternate Asset Management-managed funds and other corporate shareholders. The transaction, according to the business, was worth USD $30 million.

The National Housing Bank (NHB), State Bank of India (SBI), Bank of Baroda, Canara Bank, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Union Bank, HSBC, and others are among the prominent public and private sector banks and financial institutions with which it has more than 40 lending relationships, according to Vastu. In the fiscal year 2023, the company reported PAT (Profit After Tax)of Rs 285 crore.

Multiples Alternate Asset Management's MD and Deputy CEO, Sudhir Variyar, stated, "We cordially welcome Faering Capital as shareholders of the company and look forward to working with them moving forward. This is a significant turning point in our relationship with Vastu as we continue to see how a common goal has developed into a successful institution. Vastu's expansion reflects Multiples' dedication to encouraging a lasting impact and generating money with a purpose.

We are pleased to welcome Faering Capital to Vastu as a valued partner, stated Sandeep Menon, Founder, MD, and CEO of Vastu. Aditya, Sameer, and crew have a wealth of expertise in our field and have long supported Vastu. They will be a valuable long-term shareholder, which we welcome.

"We are thrilled to partner with Sandeep and team and other shareholders in the Vastu journey," stated Aditya Parekh, Co-Founder and managing director of Faering Capital. In India, there are numerous decades of opportunity in housing finance, particularly for inexpensive housing. We are sure that Vastu is well on its way to developing a highly profitable, significant, and reputable institutional franchise centred on affordable housing finance after following the company's development over the previous few years.

Shyamala Gopinath, a former global head of retail banking at Standard Chartered Bank, Viswanathan Ramachandran, a former head of audit at KPMG, Natrajan Ramakrishna, a former chairman and managing director of Andhra Bank, R S Reddy, a former Managing Director of NIIT, and Vijay Kumar are among the company's board of directors who are Independent Directors.