Counting this, Shriram City Union Finance (SCUF) so far in FY 2022 has infused a total of Rs 500 crore and since launch Rs 1,088 crore equity into Shriram Housing Finance (SHF).
Key points to note –
- SCUF now holds 85.02% stake of SHF.
- Equity infusion is to fund growth.
- In June 2021 conference call, the Company had expected the Rs 300 crore equity infusion to happen post November 2021. The earlier infusion could possibly imply a faster business growth compared with what was expected. This is also in line with the overall real estate environment.
I look forward to the upcoming quarterly results of the Company to get greater business details.