An interesting, and exciting new initiative is quietly taking shape in the Indian affordable housing finance space. The venture, which is expected to unravel in early 2024, will be distinct from the existing players in the country, both in terms of its scale and breadth of operation. The new company is expected to be a national player, with aspirations of becoming an institution. The new initiative has already evoked positive response from leading large fund houses who are likely to back the entity. The venture has also piqued the interest of several industry seniors. Led by former HDFC executive Satrajit Bhattacharya, a core team drawn from across the industry to lead the new initiative is presently being put together. Satrajit, himself an industry veteran with over three decades experience, was till recently the senior general manager heading investments and M&A for HDFC which has now been merged with HDFC Bank. Bhattacharya is an M&A and transaction specialist, having led multiple M&A and capital raise transactions, with a strong background in investments, deal structuring and transaction negotiations. He also had a long stint with market regulator SEBI. Besides being a hard-nosed investment banker, Bhattacharya who graduated from Delhi University is also a birding enthusiast who spends most of his non-working time, searching and photographing the avian species across the length and breadth of the country.