Star Housing Finance gets credit line from NHB and Rs10 crore sanction from IOB

31 Mar 2022 , 09:16 AM

Star Housing Finance Limited (Star HFL), a low-cost housing finance company active in affordable housing finance space has availed credit line from the NHB through one of its refinance schemes. Star HFL has previously cumulatively received Rs35 crore from the NHB through various refinance schemes in FY2021 and FY2022 and has successfully repaid two of the credit lines.

On Thursday early morning trade, Star Housing Finance was trading at Rs98 per piece lower by 2.10% on Sensex.

Star HFL has also received Rs10 crore sanction from Indian Overseas Bank (IOB) and has started relationship with IOB through this engagement.

On this occasion, Ashish Jain MD of Star HFL said “We are happy to have received incremental credit line from the NHB and the sanction letter from Indian Overseas Bank. Our strategy to focus on public sector banks and to seek lines from the NHB based on the merit that Star HFL deserves by virtue of transformation actionable has resulted in strengthening the liability management franchise.”

He further added, “Star HFL is on the growth journey and the lines received / proposed to be received shall be deployed towards asset build-up through housing finance assistance to first time home buyers in EWS / LIG segment through our operational geographies of Maharashtra, Madhya Pradesh, Gujarat, Rajasthan and Tamil Nadu. We shall continue to develop strong relationship with our lenders and operate with defined processes and strong principles of corporate governance.