REG - Housing Dev Fin Corp - Intimation SEBI Listing Regulations - Annoucement

Housing Development FinanceAnnouncement

21/04/2021 14:00

RNS Number : 2010W
  
Housing Development Fin. Corp. Ltd.
  
21 April 2021
  
 

Ref. No. SE/ 2021-22/30
 
April 21, 2021
 
BSE Limited                                                                National Stock Exchange of India Limited
P. J. Towers                                                                  Exchange Plaza, Plot No. C/1, G Block
Dalal Street                                                                  Bandra-Kurla Complex
Mumbai 400 001                                                         Bandra (East), Mumbai 400 051
 
Kind Attn: Sr. General Manager                               Kind Attn: Head - Listing 
DCS - Listing Department
 
Dear Sirs,
 
Sub:  Intimation under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Co-lending Partnership to offer housing loans with Indiabulls Housing Finance Limited (Indiabulls HFL) 
 
The Corporation has entered into a strategic co-lending partnership with Indiabulls HFL to offer housing loans to homebuyers at competitive rates, subject to the compliance with the applicable law(s) including the applicable guidelines issued by Reserve Bank of India (RBI). The participation by both the entities in extending the credit facilities shall be on a sharing of risk and reward basis on mutually agreed terms.
 
Indiabulls HFL is a RBI regulated housing finance company with pan India branch network and has a track record of customer acquisition. 
 
Under the arrangement, Indiabulls HFL will originate and process retail home loans as per jointly formulated credit parameters and eligibility criteria. The Corporation will have 80% of the total loan in its books and its share of every loan will be approved by the Corporation. Indiabulls HFL will service the loan account throughout the life cycle of the loan. Technology led co-lending is expected to help both the companies to offer convenient and seamless experience to its customers as well as help expand their reach to Tier III and IV cities of India.
 
We request you to bring the above to the notice of all concerned.
 
Thank you,
 
Yours faithfully,
For Housing Development Finance Corporation Limited
 
 
Ajay Agarwal
Company Secretary
 
cc:        London Stock Exchange
            10, Paternoster Square
London EC4M 7LS      

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