Shriram Housing Finance raises Rs 680crore capital

CHENNAI: Shriram Housing Finance Limited (SHFL), a subsidiary of Shriram City Union Finance (SCUF), has announced a capital raise of Rs 680 crore from banks and National Housing Bank (NHB).
SHFL has also completed its maiden PTC transaction with ICICI Bank with AAA rating.
The company said to have received Rs 100 crore each from Indian Bank and United Bank of India, Rs 150 crore from Canara Bank (securitisation deal), Rs 150 crore from Syndicate Bank (term loans), Rs 50 crore from ICICI Bank via a pass through certificate (PTC) and Rs 130 crore from National Housing Bank (NHB) through a refinance scheme.
Ravi Subramanian, managing director and CEO, Shriram Housing Finance, said, “Despite market challenges, SHFL has not only been able to fulfil its liability obligations but also has been able to generate fresh business. For all the loans originated from October 2018 till date, there has not been a single delinquent account.”
The housing finance company also looks at expanding market in cross-selling home loans.