Shriram City Union Finance invests ₹200 cr in housing finance arm
May 15, 2021
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The funds will help expand the distribution network and customer base of the housing finance company
The board of Shriram City Union Finance (SCUF) has approved an investment of up to ₹500 crore in Shriram Housing Finance Ltd (SHFL) over the next two years. Of this, ₹200 crore has been invested.
The current infusion of ₹200 crore will increase SCUF’s holding in SHFL to 81.16 per cent from the existing 77.25 per cent, SHFL said in a statement. With this investment, he networth of SHFL goes up to ₹776 crore.
The funds will provide growth capital to the housing finance company (HFC) and enable it to expand its distribution network and customer base, the statement added.
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Jaipur, India. Photo by Annie Spratt on Unsplash
May 14, 2021
Shriram City Union Finance (SCUF) has invested ₹200 crore in its housing finance subsidiary, Shriram Housing Finance Ltd (SHFL).
The board of SCUF has also approved an investment of up to ₹500 crore into SHFL over the next two years, of which ₹200 crore has been invested now. The current infusion of ₹200 crore will increase SCUF’s holding in SHFL to 81.16% from existing 77.25%.
The company said the funds will be used to provide growth capital to the fast-growing housing financial company and enable it to expand its distribution network and customer base. The net worth of SHFL which was at ₹576 crore as of 31 March 2021, goes up to ₹776 crore with this investment.
Shriram City Union Finance has invested ₹200 crore in its housing finance subsidiary Shriram Housing Finance Ltd. (SHFL) taking its holding in the mortgage lender to 81.16% from the existing 77.25%. T
Shriram City Union Finance Ltd increases stake in Shriram Housing Finance Ltd to 81 16% equitybulls.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from equitybulls.com Daily Mail and Mail on Sunday newspapers.