M&M plans to list Mahindra Rural Housing Finance on stock exchanges by 2020

Mahindra and Mahindra Financial Services (MMFS), holds 89 % stake in the housing finance company

The Mahindra and Mahindra group plans to list its affordable housing unit, Mahindra Rural Housing Finance (MRHF), on the stock exchanges by 2020.

Mahindra and Mahindra Financial Services (MMFS), holds 89 per cent stake in the housing finance company. The other 11 per cent is with National Housing Bank.  

Ramesh Iyer, vice-chairman and managing director of MMFS, said the loan assets of MRHF were nearly Rs 62.5 billion at end-March, compared to Rs48.2 billion a year before, higher 30 per cent. “We will look at listing after it gets critical mass (loan book)”. Loan dues are expected to be Rs