Bharat Housing Network raises $5M in green bonds from Symbiotics
What's the deal? Bharat Housing Network (BHN), a secured credit network, has raised $5 million in green bonds from SymbioticsDealroom has a profile for this one. Try Dealroom →. The bond forms part of a $75 million green basket bond programme structured by Symbiotics with British International Investment (BII).
What's the endgame? BHN will deploy the capital through its group non-banking financial company (NBFC), Singularity CreditworldDealroom has a profile for this one. Try Dealroom →, to finance green assets across India. The funds will back rooftop solar financing, electric mobility financing, and credit for clean-tech micro, small, and medium enterprises (MSMEs).
The traction: BHN says its network has enabled nearly US$271.6M of credit to more than 40,000 low- and middle-income borrowers. It has financed 7,162KW of rooftop solar capacity and over 800 electric vehicles.
Who's behind it? Founded by Lalit Menghani, Madhusudan Sharma, and Prasad Ajinkya, BHN is part of the Homeville GroupDealroom has a profile for this one. Try Dealroom →. It provides technology and infrastructure for capital deployment across mortgages, clean energy, mobility, and gold loans.
Why now? BHN previously raised US$17M in Series A funding led by NABVENTURESDealroom has a profile for this one. Try Dealroom →. Its other backers include 100UnicornsDealroom has a profile for this one. Try Dealroom →, VaraniumDealroom has a profile for this one. Try Dealroom →, RiverwalkDealroom has a profile for this one. Try Dealroom →, and LC NuevaDealroom has a profile for this one. Try Dealroom →.
What's next? The company is targeting up to $25 million in green bond issuances by the end of the next financial year. It plans to use the capital to expand green asset financing and fund sustainable businesses and retail borrowers.
The signal: Green-labelled debt is emerging as a financing tool for India's clean-energy lenders, tying capital directly to measurable outcomes such as solar capacity and emissions saved.
Read more: entrackr.com
Image credit: Generated with Gemini
