Mortgage lender Indiabulls Housing Finance (IBH) is hunting to raise close to Rs 7,500 crore more than the next two months, deputy managing director (DMD) Ashwini Kumar Hooda told TS. The fundraising will be accomplished via overseas bonds, bank loans and securitisation, amongst other people. The lender has currently raised Rs 28,119 crore till December 2020 in the present monetary year (FY21).
IBH plans to raise Rs 3,000 crore via securitisation. “There are a lot of bank sanctions which are in process, we can see around Rs 3,000- crore securitisation taking place in the balance two months,” Hooda stated. Securitisation is a popular system utilized by non-bank lenders to no cost up capital and produce quick liquidity, by promoting loan portfolios to these hunting to construct their loan books.
“We are in market for international bonds, that should give us Rs 1,500 crore, bank lines should give us Rs 2,000-3,000 crore more,” he added. Overall, in the next two months, we anticipate about Rs 7,500 crore coming to the enterprise,” the DMD added.
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Hooda stated the stake sale in OakNorth Bank was largely completed, adding that Rs 2,671 crore of regulatory equity capital raised from certified institutional placement (QIP) and partial stake-sale in OakNorth Bank. Indiabulls Housing Finance had earlier maintained that divestments in OakNorth Bank would outcome in boosting capital adequacy ratio and no cost up capital to develop the loan book of the enterprise. The lender’s capital adequacy ratio remained at 30.5% at the finish of the December quarter (Q3FY21). The enterprise also stated it was totally matched for all granular buckets for 10 years and beyond.
Indiabulls Housing Finance had earlier reported a sequential improve of 2% in its net profit to Rs 329 crore. However, the bottom-line fell 40% on a year-on-year (y-o-y) basis.