Centrum Housing to raise Rs 190 cr from Morgan Stanley managed fund
Feb 2, 2020, 15:33 IST
New Delhi, Feb 1 () Centrum Housing Finance Ltd (CHFL) on Sunday said it has inked a pact to raise Rs 190 crore from a fund managed by Morgan Stanley Pvt Equity Asia.
As part of the transaction, the fund will acquire a significant minority stake in the company, CHFL said in a regulatory filing.
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CHFL, which started operations in 2017, has 36 branches and is present across six states, serving over 3,500 customers.
The company primarily offers financing to individuals for buying and building houses in the affordable housing segment.
It has so far disbursed loans amounting to over Rs 500 crore, and operates across Gujarat, Madhya Pradesh, Rajasthan, Maharashtra, Chhattisgarh, and Delhi.
"The proceeds from this fund raise will help the company expand its operations and enter new geographies," CHFL said. MSS RVK(This story has not been edited by www.businessinsider.in and is auto–generated from a syndicated feed we subscribe to.)