 "Ajay Piramal, chairman, Piramal Enterprises")
Piramal Housing Finance, which began operations last month, will lift its first market borrowings through Rs 400-crore commercial paper, a short-term money market instrument.
Rating agency ICRA has assigned 'A1+' rating to the housing finance company's commercial paper.
ICRA said the company enjoys operational synergies with its parent Piramal Finance Ltd, thanks to PFL's experience in real estate lending and the large network of developers built over time. PFL is a wholly-owned subsidiary of Piramal Enterprises.
Moreover, the association with the Piramal Group would provide the company raised financial flexibility. The housing finance firm has brought on board seasoned professionals having experience in
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