Star Housing Finance avails credit line from NHB

Star Housing Finance Limited (Star HFL), a low-cost housing finance company active in affordable housing finance space has availed credit line from the NHB through one of its refinance schemes. Star HFL has previously cumulatively received Rs. 35 crs from the NHB through various refinance schemes in FY2021 and FY2022 and has successfully repaid two of the credit lines.

Star HFL has also received Rs. 10 crs sanction from Indian Overseas Bank (IOB) and has started relationship with IOB through this engagement. On this occasion, Ashish Jain MD of Star HFL said "We are happy to have received incremental credit line from the NHB and the sanction letter from Indian Overseas Bank. Our strategy to focus on public sector banks and to seek lines from the NHB based on the merit that Star HFL deserves by virtue of transformation actionable has resulted in strengthening the liability management franchise."

He further added, "Star HFL is on the growth journey and the lines received / proposed to be received shall be deployed towards asset build-up through housing finance assistance to first time home buyers in EWS / LIG segment through our operational geographies of Maharashtra, Madhya Pradesh, Gujarat, Rajasthan and Tamil Nadu. We shall continue to develop strong relationship with our lenders and operate with defined processes and strong principles of corporate governance.

Shares of Star Housing Finance Ltd was last trading in BSE at Rs. 98.00 as compared to the previous close of Rs. 100.10. The total number of shares traded during the day was 158279 in over 104 trades.

The stock hit an intraday high of Rs. 101.95 and intraday low of 96.55. The net turnover during the day was Rs. 15623749.00.

Source : Equity Bulls

Keywords

StarHousingFinance INE526R01010 AffordableHousingFinance CreditLine NHB