Mumbai (Maharashtra) [India], December 7 (ANI/PNN): Star Housing Finance Limited (Star HFL) (Scrip code: BOM: 539017), a rural focused HFC, has received the members' consent for a bonus issue at its shareholders' meeting held on December 6, 2022. The shareholders have also approved the proposal to split the company's shares. The board of directors of the company has fixed December 16, 2022, as the record date for the purpose of bonus issue and share split. The members of the company approved a bonus issue in the ratio of 1:1 i.e. One new bonus equity share for every one existing fully paid-up equity share and subdivision of the company's one equity share of the face value of Rs 10 each into two equity shares of the face value of Rs 5 each. Speaking on the occasion, Ashish Jain, MD of Star HFL said, "Star HFL board has declared Dec 16, 2022 as the record date for subdivision and bonus for shareholders. This action is consistent with our philosophy of creating sustai
Mumbai (Maharashtra) [India], August 8 (ANI/PNN): Star Housing Finance Limited (Star HFL) (Scrip code: BOM: 539017), a rural-focused HFC, has raised USD 2.7 mn capital through preferential allotment. The capital has been subscribed by Arika Securities Pvt Ltd and Colo Securities Pvt Ltd. This capital raise has been completed through the initiative of Kamlesh Shah. Shah is MD of Share India Securities Ltd, a three-decade veteran in the capital market, and president of ANMI (Association of National Exchanges Members of India), a pan India body comprising the trading members across the country of (NSE) (BSE), (MCX) and other exchanges having national presence and he is also on the advisory committee of BSE Limited and India INX. This raise has augmented the net worth past Rs 85 crs strengthening the capital adequacy and rationalizing the leverage levels. It provides Star HFL with an opportunity to increase AUM by further building liability on the balance sheet. This equity infusion is a p
Mumbai (Maharashtra) [India], August 1 (ANI/PNN): Star Housing Finance Limited (Star HFL) (Scrip code: BOM: 539017), a rural-focused HFC, has raised USD 2.7 mn in capital through preferential allotment and has increased its net worth to more than Rs 85 crs. This equity infusion is a part of a series of capital raise in the Company, the last being done in FY'22, subscribed by retail investors, mostly professionals from the BFSI space. This raise has further strengthened the capital adequacy and moderated the leverage levels of the Company. It results in further headroom to increase borrowings and aid in building AUM in line with the Company's growth objectives. Speaking on occasion, Kalpesh Dave, Head - Corporate Planning and Strategy, said, "This capital infusion makes Star HFL ready to get re-rated as the deployment shall be for AUM scale up in rural geographies. In the interim, with this raise, Star HFL has met the minimum net worth quantum and shall await to meet the pe