To achieve a growth of around 25-30 per cent over the next couple of years, non-banking finance company (NBFC) Shriram City Union Finance plans to raise around Rs 1,000 crore issuing debentures and through other debt this fiscal, the company said on July 31. The fund raising is expected to happen sometime this year to support the company's target. The company will continue to grow its non-corporate book size in a focused manner, GS Sundararajan, Managing Director of the company said in Chennai.
Tag: Non-Banking Finance Company
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Muthoot Group to consider banking venture
Muthoot Group may consider foraying into the banking sector if it feels that such an exercise would be a strategic fit with existing lines of business, Alexander George Muthoot, Director, Muthoot Group said.
The gold-loan non-banking finance company (NBFC) may take up the banking business if the RBI gives a separate licence for the bank based on the work it did
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Govt grants licence for infra debt fund
ICICI Bank, which is the largest shareholder of the first Infrastructure Debt Fund (IDF) under the non-banking finance company (NBFC) structure, received license for the fund from Finance Minister P Chidambaram. Following the receipt of the licence, commercial operations of the fund, named India Infradebt, would begin. Almost a year ago, the shareholders of the fund sign
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Govt grants licence for infra debt fund
ICICI Bank, which is the largest shareholder of the first Infrastructure Debt Fund (IDF) under the non-banking finance company (NBFC) structure, received license for the fund from Finance Minister P Chidambaram. Following the receipt of the licence, commercial operations of the fund, named India Infradebt, would begin. Almost a year ago, the shareholders of the fund sign
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NBFCs prefer raising funds via NCDs
Reports suggest that more and more companies are raising funds through non-convertible debentures (NCDs) in order to fund their expansion plan.
NCDs seem to be emerging as a preferred fund-raising option for companies, especially those from NBFC space, reports
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Insurance and pension funds are best suited for infra investments
Since infra projects are long term projects, Infrastructure Debt Fund (IDF) can bring in the big push in the sector as innovative means of credit enhancement is expected to provide long term, low cost debt, says D. V Prasad, Head-Finance, Essar Projects, in an interaction with Sumantra Das.