14 Jun 2022 , 11:36 AM
Earlier this month, IIFL Home Finance raised Rs2,200 crore in equity funding with Abu Dhabi Investment Authority (ADIA), plans to list the shares in the exchanges in the medium term to provide an exit and also tap market for the fresh capital.
In the statement with business standard media, Monu Ratra, chief executive and managing director, IIFL Home Finance, said once the fresh equity is infused, the firm’s capital adequacy is expected to be about 40%. This, plus retained earnings each year should suffice to support growth for five years, it added.
The Asset Under Management (AUM) stood at Rs23,617 crore as of March 31, 2022. The mortgage finance company is looking to expand assets annually by 14-15% or five years.
At around 12:11 PM, IIFL Finance was trading at Rs340.45 per piece higher by 3.53% on the BSE.
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