The fundraise is expected to help the mortgage lender boost its shrinking loan book.
Indiabulls Housing Finance is looking to raise Rs 3,000 crore by the end of this financial year, according to two people with direct knowledge of the matter.
“This money would be pumped into the company’s existing business—small housing loans and SME loans,” says one of the two persons cited above.
With this, the mortgage lender is expected to focus on growth and increasing loan disbursals from the current Rs 700 crore a month to Rs 1,500 crore by March 2024, says the person quoted above.
“The company has also repaid obligations worth Rs 5,300 crore in the past quarter [ended …
Furquan leads the banking coverage at The Morning Context. A business journalist with eight years of experience and a best-selling author, in his earlier stints as a reporter with the Deccan Herald and a columnist at The Banker, he wrote on banking, financial markets and regulatory affairs. He has extensively covered India's debt market crisis, banking crisis and the fall of Yes Bank.
Editor, Banking
furquan@mailtmc.com
Delhi