TNN
Mumbai: Bajaj Finance has invested Rs 2,500 crore of equity capital in its mortgage arm Bajaj Housing Finance. The investment aims to rapidly scale up the housing finance business by increasing headcount, opening new locations, digitising processes, and investing in new technology.
According to Bajaj Housing Finance CEO Atul Jain, the latest funding will meet the capital requirement of the company for 18-24 months. As of March 31, the mortgage financier’s capital adequacy ratio stood at 19.7% against a regulatory requirement of 15%. With this round of capital infusion, it will be over 27%, the release said.
The home loan provider recently crossed the Rs 50,000-crore mark in assets under management (AUM) and ended the year with Rs 53,322 crore. Its capital base stands strong at over than Rs 9,200 crore. The company has a triple-A rating, enabling it to raise funds at competitive rates.
This round of capital infusion ensures the company continues to maintain its growth trajectory by providing equity capital on the one hand and raising debt for growth on the other, it said. Bajaj Housing provides loans for home purchases and home improvement by individuals and corporates. It also provides loans against property for business or personal needs. On the wholesale side, it funds home construction by developers.
Mumbai: Bajaj Finance has invested Rs 2,500 crore of equity capital in its mortgage arm Bajaj Housing Finance. The investment aims to rapidly scale up the housing finance business by increasing headcount, opening new locations, digitising processes, and investing in new technology.
According to Bajaj Housing Finance CEO Atul Jain, the latest funding will meet the capital requirement of the company for 18-24 months. As of March 31, the mortgage financier’s capital adequacy ratio stood at 19.7% against a regulatory requirement of 15%. With this round of capital infusion, it will be over 27%, the release said.
The home loan provider recently crossed the Rs 50,000-crore mark in assets under management (AUM) and ended the year with Rs 53,322 crore. Its capital base stands strong at over than Rs 9,200 crore. The company has a triple-A rating, enabling it to raise funds at competitive rates.
This round of capital infusion ensures the company continues to maintain its growth trajectory by providing equity capital on the one hand and raising debt for growth on the other, it said. Bajaj Housing provides loans for home purchases and home improvement by individuals and corporates. It also provides loans against property for business or personal needs. On the wholesale side, it funds home construction by developers.
