 "Fullerton India to float housing finance company")
Non-banking finance company Fullerton India Credit, which has forayed into the housing loan space, may raise funds from the capital market or banks in the next six months, a top official said.
"Initial investments made (in this entity) is about Rs 150 crore by our parent company. Right now, that is sufficient. We may look to raise (funds) either through capital market or from banks in five to six months," Fullerton India Home Finance Managing Director Rakesh Makkar told reporters here.
Stating that the home finance division under the brand 'Grihashakti' has been launched in 20 cities across Tamil Nadu, Karnataka, Maharashtra, Gujarat and Madhya Pradesh, he said the company has set a target to disburse Rs 5,000 crore over the next four-five years under housing and non-housing loans.
The company would disburse housing loans with "ticket size of Rs 7 lakh to Rs 10 lakh."
"We are targeting to be a mass market player", he said.
Fullerton India Credit has Rs 10,585 crore assets under management and about 445 branches. It has about 13.51 lakh customers.
