Can Fin Homes mulls raising Rs 6,000 crore

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Canara Bank’s subsidiary, Can Fin Homes will raise up to Rs 6,000 crore by issuing bonds.

Can Fin Homes said the board of directors at the meeting held today considered a proposal of raising funds up to Rs 6,000 crore by issuing secured redeemable non-convertible debentures on private placement basis.

It will place the proposal at the ensuing annual general meeting on June 28, it said in a regulatory filing.

The company however did not give details about usage of proceeds to be raised.

The housing finance company offers loans both for housing and non-housing purposes.

It has also been permitted by National Housing Bank to accept deposits from public.

 

Source: Press Trust of India