Canara Bank’s subsidiary, Can Fin Homes will raise up to Rs 6,000 crore by issuing bonds.
Can Fin Homes said the board of directors at the meeting held today considered a proposal of raising funds up to Rs 6,000 crore by issuing secured redeemable non-convertible debentures on private placement basis.
It will place the proposal at the ensuing annual general meeting on June 28, it said in a regulatory filing.
The company however did not give details about usage of proceeds to be raised.
The housing finance company offers loans both for housing and non-housing purposes.
It has also been permitted by National Housing Bank to accept deposits from public.
Source: Press Trust of India