Can Fin Homes , a prominent player in the housing finance sector, has announced ambitious plans to bolster its financial position through significant debt and share issuances. The company's board has approved raising up to ₹11,000.00 crore through a combination of debt and equity instruments.

Approved Fundraising Plan

The board of Can Fin Homes has given its approval for raising funds up to ₹11,000.00 crore. This includes:

• Up to ₹10,000.00 crore through debt instruments
• Up to ₹1,000.00 crore through equity instruments, which may include Qualified Institutional Placement (QIP), preferential allotment, or rights issue

This strategic move signals the company's intent to expand its lending capacity and strengthen its financial position in the housing finance market.

Upcoming Annual General Meeting

The fundraising proposals will be presented to shareholders for their approval at the upcoming Annual General Meeting (AGM).

Dividend Announcement

Can Fin Homes has announced a final dividend of ₹6.00 per share.

New Board Appointment

The company has also strengthened its leadership by appointing Swarupananda Mallick as an Additional Director (Independent) for a term of three years. This appointment could bring fresh perspectives to the company's strategic decision-making process.

Implications for Can Fin Homes

The approved fundraising plan, totaling ₹11,000.00 crore, represents a strategic move by Can Fin Homes to secure substantial funding. This capital raise could be aimed at:

• Expanding the company's loan book
• Improving liquidity position
• Funding future growth initiatives
• Potentially refinancing existing debt

Next Steps

While the board has approved these proposals, they are still subject to shareholder approval at the upcoming AGM. Investors and market watchers will be keenly observing how these potential capital-raising activities unfold and their impact on Can Fin Homes' financial position and market standing in the competitive housing finance sector.

As the company moves forward with these plans, more details on the structure, timing, and specific use of funds are expected to be provided, offering greater clarity on Can Fin Homes' strategic direction and growth prospects.

Can Fin Homes , a prominent player in the housing finance sector, has announced that its Board of Directors is set to review options for raising funds through equity shares and debentures. This strategic move could potentially bolster the company's financial position and support its growth initiatives.

Fundraising Review

The company's Board of Directors will be evaluating various fundraising alternatives, focusing on two key financial instruments:

1. Equity Shares: This option could involve issuing new shares, which would increase the company's share capital and potentially bring in new investors.

2. Debentures: The Board will also consider raising funds through the issuance of debentures, which are debt instruments that could provide the company with additional capital without diluting existing shareholders' equity.

Implications and Outlook

While the exact details of the potential fundraising, including the amount and timing, have not been disclosed, this move suggests that Can Fin Homes is exploring ways to strengthen its financial foundation. The additional capital, if raised, could be utilized for various purposes such as:

• Expanding the company's loan portfolio
• Improving liquidity
• Funding business growth initiatives
• Strengthening the balance sheet

Investors and market watchers will likely keep a close eye on further announcements from Can Fin Homes regarding the outcome of this board review and any subsequent fundraising decisions.

It's important to note that this announcement is preliminary, and the company has not made any firm commitments regarding the fundraising at this stage. The Board's review will determine the most suitable course of action for the company's financial strategy moving forward.