CanFin Homes to raise Rs 3,000 crore via bonds

CanFin Homes Ltd, sponsored by Canara Bank, today said it will raise Rs 3,000 crore by issuing bonds in tranches.
The decision was taken by the company's Board of Directors at a meeting held today.
"The Board also approved a proposal for raising of funds by way of issue of non-convertible debentures to the extent of Rs 3,000 crore in tranches on private placement basis," it said in a regulatory filing.
The company did not provide further details as to where it will utilise the funds that it plans to raise.
One of the leading players in housing finance sector, CanFin Homes, with 120 branches and 50 satellite offices, has 70 per cent of its branches in southern India while the remaining are in the north.

It offers housing as well as non-housing loans and also accepts deposits.
Shares of the company closed 1 per cent down today at Rs 1,648.35 on BSE.