Private equity giant Carlyle Group Inc. has agreed to acquire a majority stake in Nido Home Finance Ltd., India's non-banking financial company, for approximately 21 billion rupees ($232 million). The deal marks Carlyle's latest expansion into India's growing financial services sector, targeting the country's underserved mortgage market.

The transaction values Nido Home Finance at a significant premium, reflecting the strong demand for specialized lending institutions in India. Nido Home Finance focuses on providing home loans to middle-income borrowers who often struggle to secure financing from traditional banks. This investment aligns with Carlyle's strategy of backing companies with strong growth potential in emerging markets.

The acquisition comes as India's housing finance sector experiences rapid growth, driven by increasing urbanization and rising middle-class incomes. Carlyle's investment in Nido Home Finance demonstrates continued confidence in India's economic prospects despite global market uncertainties. The deal is expected to close subject to regulatory approvals.