Shriram Housing Fin gets Rs 300-crore equity capital from parent firm

The capital will also be utilised to fund the expansion plans in the targeted regions

To oil its fast-paced expansion and the resultant expansion of its loan book, affordable segment-focused Shriram Housing Finance has secured an additional Rs 300 crore equity capital from the parent Shriram City Union Finance, taking its total equity capital to about Rs 1,100 crore.

The company has set a target of crossing Rs 5,600 crore of assets under management (AUM) target by March, as it had already crossed the Rs 4,000-crore mark in July and the new growth capital will help it expand the balance sheet faster.

For the Shriram Group's housing finance company, this is the second round of equity capital