Mahindra & Mahindra Financial Services is planning to raise around Rs 200 crore, in order to enhance the capital base of its subsidiary, Mahindra Rural Housing Finance. Through this initiative, the company aims to expand its presence and exposure by doubling its loan disbursement every year. Its loan book currently stands at Rs 900 crore and it aims to take it to Rs 4,000 crore by 2015. To facilitate this, the company plans to expand its presence from seven to 14 States.
Mahindra Rural Housing was formed to meet the housing loan requirements of people in rural areas and National Housing Bank acquired a 12.5% stake in the company. Additional funding would also be it the same ratio.
