Financial services firm Edelweiss Capital Ltd, that is backed by Sequoia Capital and Greater Pacific among others, could soon be joining the list of private lenders to those buying a house.
Edelweiss Housing Finance Ltd, a wholly owned subsidiary of the diversified financial services company, has received the certificate of registration from the National Housing Bank to commence the business of a housing finance institution.
Edelweiss, that went public at the height of the bull run with rich valuations, is into investment banking, institutional equities, asset and wealth management, private client brokerage, wholesale financing besides advisory services.
It joins new firms who are planning to enter the housing finance segment including Muthoot Pappachan Group, a Kerala based finance group, that plans to form a separate subsidiary for the business in the coming fiscal. Last year Reliance Capital had received the NHB approval to create a housing finance company.
Private banking space is expected to become more active space in the near term as it was announced in the budget that the RBI will be considering giving banking licenses to corporates and NBFCs.