Economy

Bajaj Housing Finance announces capital raise of rs. 2,500 crore

Bajaj Housing Finance announces capital raise of rs. 2,500 crore
Bajaj Housing Finance announces capital raise of rs. 2,500 crore

Bajaj Housing Finance announces its seventh and largest round of capital infusion so far. On 7th April, 2022, the Housing Finance Company received Rs. 2,500 Cr. of equity capital from its parent company, Bajaj Finance Limited.

Bajaj Housing Finance recently announced a milestone achievement of crossing the Rs. 50,000 Crore Assets Under Management (AUM) mark and ending the year at Rs. 53,322 Crore of AUM.

With this capital infusion of Rs. 2,500 Crore, the Company is poised for future growth, driven by the strong momentum the Company has been witnessing over the past 4 years across all its lines of business. The Company plans to invest in people, geo-expansion, process improvement, and technology to help deliver its growth plans.

Commenting on the capital infusion, Atul Jain, CEO of Bajaj Housing Finance, said, “This is the ever-highest capital infusion by Bajaj Finance Limited to fund it’s future growth. This infusion will be sufficient to meet our capital requirements for the next 18–24 months. The Company remains committed to continue its momentum, and this infusion would enable the Company to expand its geo footprint as well as its distribution network across its business lines for growth.”

This round of capital infusion is pegged to ensure, the Company continues to maintain its growth trajectory by providing equity capital on one hand as well as raise debt for growth on the other.
Bajaj Housing Finance’s Capital Adequacy Ratio (CRAR) stood at 19.72% as of the end of Mar’22, against a regulatory requirement of 15%, and with this round of capital infusion, its Capital Adequacy Ratio will be in excess of 27%. The Company’s capital base stands strong in excess of Rs. 9,200 Crore.
About Bajaj Housing Finance Limited
Bajaj Housing Finance Limited is a 100% subsidiary of Bajaj Finance Limited – one of the most diversified NBFCs in the Indian market, catering to more than 50 million customers across the country. Headquartered in Pune, it offers finance to individuals as well as corporate entities for the purchase and renovation of homes, or commercial spaces. It also provides loans against property for business or personal needs as well as working capital for business expansion purposes. It also offers financing to builders and developers engaged in the construction of homes. Bajaj Housing Finance Limited enjoys the highest CRISIL AAA (Stable) rating.
This article was shared with Prittle Prattle News as a Press Release
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