IIFL Home Finance raises Rs 10 bn from NHB and a $50 mn from SBI via ECB

Photo: Shutterstock

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.


Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel