A financial services company has announced an infusion of ?300 crore into its housing finance subsidiary through a rights issue. The investment aims to support the growth of the housing finance company and improve its leverage ratio, with the parent company maintaining full ownership after the capital infusion.
According to a stock exchange filing, the parent company made the investment on a rights basis in the equity shares of the housing finance subsidiary. The mortgage lender recently secured an additional ?830 crore through non-convertible debentures from the International Finance Corporation.
These funds will be used to offer home loans to low-income and middle-income groups, with a portion directed to fund MSMEs, focusing on women-led enterprises, to foster growth and economic development.
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