Shriram Housing Finance raises Rs 680 cr from various lenders

Firm concludes its maiden PTC deal with ICICI Bank

Shriram Housing Finance Limited (SHFL), a subsidiary of Shriram City Union Finance (SCUF) has raised Rs 680 crore from various public and private sector banks, along with NHB. 

SHFL has also completed its maiden PTC (pass through certification) transaction, rated AAA (SO), with ICICI Bank.

The company received Rs 100 crore each from Indian Bank and United India, Rs 150 crore from Canara Bank in a securitisation deal, Rs 150 crore from Syndicate Bank by way of term loans, Rs 50 crore from ICICI via a PTC and Rs 130 crore from National Housing Bank (NHB) through a re-finance scheme.

Ravi Subramanian, Managing Director & CEO, Shriram Housing Finance said that despite market challenges, SHFL has not only been able to fulfil its liability obligations but also has been able to generate fresh business, without compromising on portfolio quality. 

For all the loans that originated between October 2018 and now, there has not been a single delinquent account, he said.

With over 3,000 branches across the country and millions of new customers on boarded every month, Shriram Housing Finance plans to tap opportunities in cross-selling home loans. The company plans to leverage the group's distribution strength to cater to the needs of an exclusive set of customers.