Tata Capital Housing Finance looking to raise $100 million via ECB

Tata Capital, the financial services arm of the diversified conglomerate, will be raising $100 million in foreign borrowings through an arm by next week, a top official has said. The external commercial borrowing (ECB) being raised by Tata Capital Housing Finance is part of a liabilities diversification programme, Tata Capital managing director and chief executive Rajiv Sabharwal said. "We will do a borrowing of $100 million before the end of the fiscal year," Sabharwal told media recently. The ECB funds will come right after aRs 2,500-crore capital infusion by the parent Tata Sons in two tranches through the course of the fiscal, he said.