canfinhomes

The home loan provider said that the such decision is taken after shareholders approved the debt raise plan at the annual general meeting which was held on 7 September 2022.

Housing loan provider Can Fin Homes may raise debt capital around Rs 4,000 crore after taking board of directors’ approval on the proposal later in October. Can Fin Homes is promoted by Canara Bank.

The board of directors of the company at meeting scheduled on October 17, 2022 will approve the financial results for the company’s second quarter and first half ended September 2022-23 and the debt related proposal will also be discussed.

“The proposal is being placed to the board seeking approval and authorisations at the said meeting. It, if approved, will affect the issuance of non-convertible redeemable debentures up to an amount of Rs 4,000 crore, on private placement basis,” said Can Fin Homes during regulatory filing on 6 October.

The funds will be raised in one or more tranches for a tenure up to the date of the annual general meeting of the current fiscal year, said the company.

The home loan provider said that the such decision is taken after shareholders approved the debt raise plan at the annual general meeting which was held on 7 September 2022.

Canara Bank holds 29.99 per cent stake in Can Fin Homes. Can Fin Homes shares were traded at Rs 499.60 apiece on BSE, showing a rise by 0.82 per cent from the previous close.