 "IIFL Home Finance raises Rs 10 bn from NHB and a $50 mn from SBI via ECB")
IIFL Holdings announced Tuesday that its subsidiary IIFL Home Finance has raised Rs 10 billion from the National Housing Bank (NHB).
IIFL Home Finance has raised another $50 million from State Bank of India through External Commercial Borrowing (ECB) route.
In a release, IIFL further said that IIFL Home Finance is one of the first borrowers under the Reserve Bank of India's revised norms for ECB through automatic route.
"This not only provides liquidity but also enhances our asset liability management position as these facilities are for a period of 5-15 years," said Monu Ratra, CEO and Executive Director at IIFL Home Finance.
These funds, Ratra added would help IIFL Home Finance to bolster its ever growing loan demand in the affordable housing segment.
IIFL Holdings is a leading player in the Indian financial services space.
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