Shriram Housing raises Rs 680 cr from banks, NHB


PTI | Mumbai | Updated: 12-11-2019 17:25 IST | Created: 12-11-2019 17:11 IST
Shriram Housing raises Rs 680 cr from banks, NHB
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Shriram Housing Finance, a subsidiary of Shriram City Union Finance, has raised Rs 680 crore from public and private sector banks and the National Housing Bank. While the company got Rs 100 crore each from Indian Bank and United Bank of India in fresh loans, it received Rs 150 crore from Canara Bank in a securitization deal, Rs 150 crore from Syndicate Bank as term loan and Rs 130 crore from National Housing Bank through a re-finance scheme the company said in a statement on Tuesday.

The HFC also raised Rs 50 crore from ICICI Bank through a pass-through certificate. Despite market challenges, we could not only fulfill our liability obligations but also could generate fresh business, without compromising credit quality, managing director Ravi Subramanian said.

He said all the loans originated from October 2018 to date, there has not been a single delinquent account. The Shriram group has over 3,000 branches.

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