Shardul Amarchand Mangaldas & Co. advises Asian Infrastructure Investment Bank on USD 100 million ECB facility to IIFL Home Finance Limited for affordable and green housing in India

July 11, 2025

Shardul Amarchand Mangaldas & Co. acted as Indian legal counsel to the Asian Infrastructure Investment Bank (AIIB) in connection with its USD 100 million (approx. INR 855 crores) external commercial borrowing (ECB) facility extended to IIFL Home Finance Limited, a leading Indian non-banking financial company – housing finance company (NBFC-HFC). Bird & Bird LLP acted as lenders’ foreign counsel.

The transaction is a significant cross-border ECB deal in the affordable and green housing sector, supporting sustainable development goals in India under the Pradhan Mantri Awas Yojana (Urban) Mission and forming part of AIIB’s broader climate finance initiative.

The transaction team was led by Anurag Dwivedi, Partner; Megha Kaur, Principal Associate; Shashwat Bhaskar, Senior Associate; Pratiksha Gupta, Associate; and Chaitanya Kashyap, Associate.

This transaction represents a landmark financing in India’s affordable and green housing space and strengthens AIIB’s footprint in private sector development and climate-aligned investments in India