Indiabulls Housing seeks RBI nod to raise Rs 5,000 crore loan

Indiabulls Housing seeks RBI nod to raise Rs 5,000 crore loan
27/09/2017 , by , in News/Views

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.

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