Home First Finance Plans to Raise Rs 99 Crore through Issuance of Bonds
The housing finance firm said it plans to raise up to Rs 99 crore through issuance of bonds on a private placement basis. The fund-raising plan involves the issuance of secured, redeemable and taxable nonconvertible debentures on a private placement basis in one or more tranches of Rs 99 crore. “A meeting of the committee of directors of the company is scheduled to be held on November 22, 2021," the non-banking financial company said. The recent entrant on bourses reported strong earnings in the July-September quarter, with net profit rising on-year to Rs 44.87 crore as against Rs 14.33 crore a year ago. Total income rose 34.3 per cent year-on-year (YoY) to Rs 146.16 crore in the previous quarter, while operating profit had registered an increase of 95.6 per cent to Rs 61.55 crore in the July-September period, up from Rs 31.47 crore a year ago. Home First Finance posted a pre-tax profit of Rs 56.31 crore in Q2, substantially higher than Rs 17.57 crore a year ago.
Tags : News/Views Net Profit Bonds Housing Finance Pre-tax profit Debentures Home First Finance Fundraising