Star Housing Finance Limited Raises $2.7 Mn Equity to Augment the Net Worth and Build Scale in Rural Geographies
Mr. Kalpesh Dave, Head Corporate Strategy, Star Housing Finance Ltd.
Mumbai (Maharashtra) [India], August 01: Star Housing Finance Limited (Star HFL) (Scrip code: BOM: 539017), a rural-focused HFC, has raised $2.7 mn in capital through preferential allotment and has increased its net worth to more than Rs. 85 crs. This equity infusion is a part of a series of capital raise in the Company, the last being done in FY’22, subscribed by retail investors, mostly professionals from the BFSI space.
This raise has further strengthened the capital adequacy and moderated the leverage levels of the Company. It results in further headroom to increase borrowings and aid in building AUM in line with the Company’s growth objectives.
Speaking on occasion, Mr. Kalpesh Dave, Head - Corporate Planning and ...