Shriram Housing Finance, a subsidiary of Shriram City Union Finance, is actively pursuing a smaller lender in the affordable housing area for acquisition and merger whereas valuation mismatch might pose a hurdle to the scheme of issues. Talks are on, mentioned Managing Director Ravi Subramanian.
The lender is, in parallel, planning a Rs 1,000-crore capital elevate to fund its business progress. This is prone to be in the first quarter of the subsequent fiscal. Shriram City Union Finance, which holds 85% in its housing unit, had infused Rs 500 crore final 12 months into it.
The mortgage lender clocked a 54% year-on-year loan asset progress to Rs 6,546 crore at the finish of September and is on the monitor to realize the Rs 10,000-crore mark by September 2023, properly forward of its earlier goal of March 2024.About 35-40% of its enterprise comes from the southern states—Karnataka, Tamil Nadu, Andhra Pradesh, and Telangana. Gujarat is one other state the place is rather robust.
