Bharat Housing Network (BHN), a multi-asset secured credit network, has raised $5 million (around INR 47 crore) through green bonds from Symbiotics Investments to expand its green financing portfolio in India.
The financing is part of a $75 million green basket bond programme structured by Symbiotics in partnership with British International Investment (BII), the UK’s development finance institution and impact investor. The programme is aimed at supporting the adoption of renewable energy solutions across Asia and Africa.
Funds to Support Solar, EV and Clean-Tech Financing
The capital raised by BHN will be structured to finance sustainable green assets in India through its group NBFC, Singularity Creditworld Pvt Ltd.
The funds will be deployed across three key areas: solar rooftop financing, electric mobility financing and credit for new-age clean-tech MSMEs.
BHN said its network has so far enabled nearly INR 2,000 crore of credit to more than 40,000 low- and middle-income borrowers.
As part of its green financing activities, the company has supported the installation of 7,162 KW of solar rooftop capacity and the purchase of more than 800 electric vehicles. These deployments have a potential to save around 1,01,500 tonnes of CO2 emissions, according to the company.
BHN Targets $25 Million Green Bond Issuance
Bharat Housing Network is also planning to issue up to $25 million in green bonds by the end of the next financial year.
The proposed issuance is expected to support the expansion of green asset financing while improving access to capital for sustainable businesses and retail borrowers.
BHN is part of Homeville Group and provides technology and infrastructure for capital deployment across mortgages, clean energy, mobility and gold loans.
The company was founded by Lalit Menghani, Madhusudan Sharma and Prasad Ajinkya.
Its investor base includes NABVENTURES, 100Unicorns, Varanium, Riverwalk and LC Nueva. BHN has also raised debt from lenders including State Bank of India (SBI), GMO, ICICI Bank, IDFC FIRST Bank and AU Small Finance Bank.
Focus on Green Financing Beyond Major Cities
Keyur Vinchhi, SVP, Strategy and Business Development at Bharat Housing Network, said the financing from Symbiotics reflects confidence in BHN’s lending model and its focus on inclusive and sustainable finance.
He said India’s energy transition is increasingly extending beyond metropolitan areas into Tier-2 and Tier-3 cities, where BHN plans to use its established co-lending platform and secured lending capabilities to deploy capital across green financing segments.
The company intends to use the additional capital to expand access to financing for green assets and support borrowers and businesses participating in India’s clean-energy transition.
Symbiotics Expands Green Lending in India
Prashant Bhardwaj, Regional Manager, South Asia at Symbiotics, said the firm was pleased to partner with Bharat Housing Network.
According to Bhardwaj, the financing supports Symbiotics’ broader objective of promoting sustainable development across emerging and frontier economies and contributing to the growth of green and sustainable lending in India.
Symbiotics is an impact-investing market access platform focused on private markets in emerging and frontier economies. Its activities include investment, asset management and capacity building services.
Since its establishment in 2005, Symbiotics has originated more than 9,400 investments, representing over $12 billion, across 669 companies in 99 countries.
The group currently manages an aggregate portfolio of $2.5 billion across 19 funds and mandates. Its portfolio companies have also benefited from more than 170 technical assistance projects worth over $19 million.
For BHN, the latest financing adds to its efforts to expand secured lending in green and sustainable sectors while extending access to capital for retail borrowers and businesses across India.
-By Shivani Solanki
