Can Fin Homes To Raise Up To ₹110 Billion Via Debt, Equity

The board of Can Fin Homes Ltd. has approved raising up to ₹110 billion through a mix of debt and equity instruments, the company said in an exchange filing on Wednesday.

Of the total, the housing finance firm plans to raise ₹100 billion through debt instruments including bonds, non-convertible debentures, and tier II bonds, denominated in Indian or foreign currency. Additionally, it plans to raise up to ₹10 billion through qualified institutional placement of shares or other equity instruments.

The fundraising is subject to shareholder approval at the company’s annual general meeting scheduled for August 20.

The board has fixed July 11 as the record date to determine shareholders eligible for the final dividend of ₹6.00 per equity share for the year ended March 31.

Separately, Swarupananda Mallick has been appointed as an additional director, effective August 21, for a three-year term, subject to shareholder approval at the AGM.