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Canara Financial institution promoted housing mortgage supplier Can Fin Houses is planning to lift debt capital of as much as Rs 4,000 crore and can search board of administrators’ approval on this proposal later this month.
The board of administrators of the corporate is scheduled to satisfy on October 17, 2022 to approve monetary outcomes for the corporate’s second quarter and first half ended September 2022-23.
“On the stated assembly the proposal is being positioned to the board searching for approval and authorisations for issuance of non-convertible redeemable debentures as much as an quantity of Rs 4,000 crore, on personal placement foundation,” Can Fin Houses stated in a regulatory submitting on Thursday.
The corporate stated it’ll increase the funds in a number of tranches for a interval as much as the date of the annual normal assembly of the present fiscal yr.
The house mortgage firm stated the shareholders permitted the debt increase plan on the annual normal assembly held on September 7, 2022.
Canara Financial institution has shareholding of 29.99 per cent in Can Fin Houses.
Shares of Can Fin Houses had been buying and selling at Rs 499.60 apiece on BSE, up by 0.82 per cent from the earlier shut.
(Solely the headline and movie of this report might have been reworked by the Enterprise Normal workers; the remainder of the content material is auto-generated from a syndicated feed.)
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