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GRUH Finance Ltd.

BSE: 511288 Sector: Financials
NSE: GRUH ISIN Code: INE580B01029
BSE 15:54 | 16 Jan 533.55 1.75
(0.33%)
OPEN

535.00

HIGH

546.95

LOW

505.60

NSE 15:57 | 16 Jan 535.60 2.80
(0.53%)
OPEN

535.00

HIGH

554.00

LOW

506.15

OPEN 535.00
PREVIOUS CLOSE 531.80
VOLUME 61446
52-Week high 551.00
52-Week low 325.00
P/E 60.15
Mkt Cap.(Rs cr) 19,509
Buy Price 533.55
Buy Qty 1011.00
Sell Price 0.00
Sell Qty 0.00
OPEN 535.00
CLOSE 531.80
VOLUME 61446
52-Week high 551.00
52-Week low 325.00
P/E 60.15
Mkt Cap.(Rs cr) 19,509
Buy Price 533.55
Buy Qty 1011.00
Sell Price 0.00
Sell Qty 0.00

GRUH Finance Ltd. (GRUH) - Company History

Gruh Finance Ltd (formerly known as Gujarat Rural Housing Finance Corporation) was incorporated in 1986 to provide financial services mainly for rural housing, construction/upgradation of dwelling units, and to developers. The company came out with an FCD issue in 1994-95, which was oversubscribed. Keeping in view the competitive environment and the emerging challenges, the company has introduced new loan products like site finance and loans for non-residential premises. It also plans to finance land development projects. The company received a rating of "MA+" (1999-2000) for its fixed deposit programme from Investment Information & Credit Rating Agency of India. To focus on poorer households in rural and semi-urban areas, the company decided to set up Gruh Foundation. Also, during the year 1999-2000, GRUH opened four new retail office in Amravati, Chandrapur, Modasa and Palanpur and three service centres - one in Pune and two in Surat and hence total retail network now consists of 28 offices - 17 in Gujarat and 11 in Maharashtra. Due to the stiff competition, the company has introduced three-tier pricing strategy linked to the duration of the loan. The company was the first HFC to re-introduce the 20 year home loan product in the market. During the year 2000-01, Housing Development Finance Corporation Ltd., (HDFC) the largest shareholder of the company acquired 68,90,000 equity shares from Gujarat Ambuja Cements Ltd.,(GACL) in July 2000. As a result, HDFC's shareholding in GRUH currently stands 54.49% and therefore it is a subsidiary of HDFC. Under the Golden Jubilee Rural Housing Finance Scheme of the Government of India, GRUH has financed 4,891 dwelling units registering a growth of 35% over the previous year.