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4-Traders Homepage  >  Equities  >  GHANA STOCK EXCHANGE  >  HFC Bank Limited    HFC   GH0000000110

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HFC Bank : Aspire Home Fin in talks with PEs to raise Rs 500 crore

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04/21/2017 | 06:54pm CEST

Aspire Home Finance, a subsidiary of the Motilal Oswal Financial Services company, according to a leading news portal is reportedly in talks to raise Rs 500 crore through various private equity firms to boost the doubling of its loans at a valuation of around Rs 4,000 crore.Aspire Home Finance, a subsidiary of the Motilal Oswal Financial Services company, according to a leading news portal is reportedly in talks to raise Rs 500 crore through various private equity firms to boost the doubling of its loans at a valuation of around Rs 4,000 crore.

This will help the subsidiary firm to grow its loan book over the next two years, as reported by the news house.

A senior executive of Aspire Home Finance said that, they are open for capital inflow but as of now have not taken the matter to the board. He also added that as they are growing their loan book rapidly, they will need capital.

The subsidiary company as of March 31, 2017 has a loan book of Rs 4100 crore, and mainly deals in retail home finance sector. Housing Finance Company’s have a huge concern over the areas such as loan against property and developer loans, while Aspire does not have any exposure to these areas. The non-performing assets at the end of the financial year stood at 0.3%.

The company is targeting to be growing at a pace of 50-60% on a year-on-year basis, according to another company executive.

(c) 2017India Infoline Ltd. All rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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