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.