Indiabulls Housing Finance to raise Rs 10,500 cr debt in FY14
Quotes

Indiabulls Housing Finance to raise Rs 10,500 cr debt in FY14

Last Updated: Sunday, August 11, 2013, 16:39
 
 Comment 0
 
Indiabulls Housing Finance to raise Rs 10,500 cr debt in FY14
Mumbai, Aug 11 (PTI) Indiabulls Housing Finance is looking to raise up to Rs 10,500 crore in liabilities this fiscal through multiple sources, a top official of the non-banking lender has said.

Given the hardening of rates in the money market, the company will be re-jigging its strategy to increase the share of securitisation for fund raising, he said.

"We will be raising around Rs 10,500 crore this fiscal. The share of portfolio sell down (securitisation) will increase due to the recent events," Indiabulls Housing Finance (IHFL) Chief Executive Gagan Banga told PTI over the weekend.

He said 40 percent of the funds will be arranged through banks, while bonds will also account for a similar component and the portfolio sell down will increase to 20 percent.

The company, listed on the bourses last month, has been doing securitisation transactions for over three years but this year its share will increase, Banga maintained.

Rates in the money markets have hardened following the Reserve Bank's liquidity tightening moves aimed at reducing the speculation on the rupee.

The NBFC got listed after the Indiabulls Group completed the reverse merger between Indiabulls Finance Services and Indiabulls Housing Finance.

The housing finance firm had reported an increase of 31.35 percent in its June quarter net at Rs 351.5 crore due to a healthy increase in core net interest income.

Speaking after the results announcement, Banga had said the company was carrying an extra liquidity of around Rs 7,500 crore parked in various liquid instruments.

PTI



First Published: Sunday, August 11, 2013, 16:39


Comments


comments powered by Disqus
Google I/O 2014
Google I/O 2014
Maker Faire @ White House
Maker Faire @ White House
Amazon unveils 3D `Fire` smartphone
Amazon unveils 3D `Fire` smartphone
RIL`s 40th AGM
RIL`s 40th AGM
Samsung Galaxy Tab S
Samsung Galaxy Tab S

Web Wrap
Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved