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Tata Capital to raise Rs2,100 cr by end of next fiscal

Tata Capital to raise Rs2,100 cr by end of next fiscal
PTI
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First Published: Tue, Sep 15 2009. 04 08 PM IST
Updated: Tue, Sep 15 2009. 04 08 PM IST
New Delhi: Tata Capital, the non-banking finance arm of Tata Group, on Tuesday said it expects revival of demand in auto, housing and personal loans from the third quarter and plans to raise Rs2,100 crore through bond issue by the end of next fiscal.
“By March 2011, the company plans to raise Rs2,100 crore through issue of Tier II bonds,” Tata Capital managing director Praveen Kadle said.
He said there is good demand of auto, housing and personal loans and the company expects robust demand in the third and fourth quarter of this fiscal.
“We are growing much better than the average credit growth of the country ... First quarter growth was not that big ... but we are seeing significant growth beginning of second quarter and I am hoping we will see further growth in the last two quarters,” he added.
The company expects at least 50 to 60% loan growth in the current fiscal, Kadle said.
Tata Capital on Tuesday announced the scale up of its consumer finance and advisory business (CFAB), which aims to be a one- stop shop for providing the entire financial requirements through a single window.
“The company has created a unique, common sales and service structure which dovetails all consumer finance and advisory products and services into a common branch network,” Kadle said.
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First Published: Tue, Sep 15 2009. 04 08 PM IST