ORIX Corp, a Japanese leasing firm, has infused $25 million USD into its Indian arm, called ORIX Auto Infrastructure Services Ltd. The last time ORIX did this was in 2013.
This funding will be used to expand car sharing and the launch of a new housing initiative for the company.
So far, OAIS, the Indian wing, has made strides in car rental and leasing businesses, as well as other, smaller efforts.
"The additional equity would help augment the existing businesses as well as support some of our key new initiatives such as self drive and affordable housing finance for which a new housing finance company will be formed soon," OAIS Managing Director and CEO Sandeep Gambhir said.