Chennai: The Sanmar Group has emerged as the strategic investor in affordable housing finance company Aham Housing Finance after infusing Rs 100 crore ($10.5 million) through its group entity Sanmar Shipping Ltd (SSL).The equity investment gives Sanmar Group a controlling stake of around 43% in Aham Housing Finance, making it the largest shareholder in the company. Promoter and managing director Venkatesh Kannappan holds around 26% stake, according to details shared by Aham.The investment marks the Chennai-headquartered industrial conglomerate Sanmar Group’s entry into the affordable housing finance space and will support Aham’s expansion across existing markets in South India, while enabling selective entry into tier-2 and tier-3 towns and rural markets. The funds will also be used to strengthen underwriting capabilities and technology infrastructure.“This capital will enable us to deepen our presence in existing markets, expand selectively into new geographies, and continue investing in the capabilities needed to serve our customers better,” said Kannappan.Vijay Sankar, chairman of Sanmar Group, said the investment was strategic, adding that Aham had built a strong platform in affordable home financing with the support of an experienced risk management team.Chennai-headquartered Aham Housing Finance currently has assets under management (AUM) of over ₹150 crore.
