-
ALSO READ
Edelweiss to transfer wholesale loans worth Rs 2,000 crore to AIF
Edelweiss falls 7% despite clarification on investment in Kohinoor group
Icra downgrades Edelweiss debentures on weakness in wholesale lending book
Edelweiss financial arm raises Rs 3,000 crore in first half of FY20
ICRA downgrades Edelweiss Debentures on wholesale loan book's vulnerability
-
Edelweiss Financial Services will transfer wholesale loans worth Rs 2,000 crore to Alternative Investment Fund (AIF) for real estate completion financing, as it shrinks corporate credit portfolio by 50-60 per cent over the next two years. Its corporate loan book stood at over Rs 16,100 crore at the end of September. Of this, the wholesale book comprised of Rs 11,000 crore and balance was structured finance portfolio. Rashesh Shah, chairman and chief executive, EFSL said the deal with Korean Investor for AIF was timely, as a lot of real estate projects were economically viable but had been suffering from last-mile financing. This gives liquidity window as some of the current loans would get transferred to this AIF.
RECOMMENDED FOR YOU