Indiabulls Housing seeks RBI nod to raise Rs 5,000 crore loan
Indiabulls Housing Finance has sought RBI approval to raise foreign loan of Rs 5,000 crore as part of its Rs 45,000-crore fund raising programme for the full year.”We have sought permission from the RBI to raise funds through external commercial borrowings. Under the automatic route, we expect to raise $750 million,” people close to the situation said.
The fund raising has been spurred by the government’s decision to award infrastructure status to the affordable housing sector in the 2017-18 budget. “We want to raise money via the ECB route to fund affordable housing projects which were accorded the affordable housing has been given infrastructure status,” the person added.