After launching Rs 12,000 crore non-convertible debentures (NCD) issue, Kapil Wadhawan, Chairman and Managing Director, Dewan Housing Finance Ltd (DHFL), said the proceeds will be used to support growth in the affordable housing segment.
Talking about the issue, Wadhawan said, "The base issue size will be Rs 3,000 crore with a right to retain an over subscription of Rs 9,000 crore. So, the total issue size in this tranche would be about Rs 12,000 crore."
"Will look to borrow close to Rs 50,000 crore in FY19 for lending activities. 75% or rather 100% of the money proceeds will be deployed towards affordable housing segment," he added.
DHFL has a strong leadership position in the affordable housing lending segment and expect to see 20% growth in FY19 loan disbursal.