Aditya Birla Finance, a non-banking finance company (NBFC), will foray into unsecured lending with personal loan and business loan segments from January.
“We want to focus on personal loans and business loans to SMEs (small and medium sector enterprises). Granular business will be our focus. We will begin from January 1…It will be part of our retail business but as a separate vertical,” said Rakesh Singh, Chief Executive Officer, Aditya Birla Finance.
After raising Rs. 3,000 crore via NCDs earlier this year, Aditya Birla Finance will look at raising about Rs. 450 crore by March 2016.
“We raise money to address our growth needs and the funds raised worth Rs. 3,000 crore via NCDs earlier this year, has been deployed. We will need capital this year and we have budgeted at about Rs. 450 crore by the end of March 2016. The mode of capital raising will be decided by the promoters and management soon,” Singh said, adding that the company will grow in the SME, mortgage and retail businesses at present.
Source : Business Line
