Can Fin Homes board approves fund raise of up to Rs 5,000 crore

Canara Bank promoted housing loan provider Can Fin Homes Ltd on Monday (June 19) said its board has approved raising up to Rs 4,000 crore via debt instruments and up to Rs 1,000 crore via Qualified institutional placement (QIP).

"To place the recommendation to the members at ensuing Annual General Meeting for issuance of on-shore and/or off-shore debt instruments including but not limited to bonds, non-convertible debentures, non-convertible subordinated debt in the nature of Tier II NCDs/bonds, denominated in Indian currency and/or any foreign currency, up to an amount not exceeding Rs 4,000 crore," the company said.

Also, it said, "To place the recommendation to the members at the ensuing Annual General Meeting for further issue of shares through Qualified Institutional Placement (QIP) and/or preferential allotment and/or Rights issue for an amount not exceeding Rs 1000 crore."