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Stock Report
Objectives of co-lending Partnership with HDFC and Indiabulls Housing Finance Limited
Posted On : 2021-04-22 09:16:34( TIMEZONE : IST )
The objective of the co-lending program between HDFC and Indiabulls HFL is to increase the distribution bandwidth for HDFC which will lead to additionality of retail housing loan business.
All loans will be processed in accordance with the Standard Operating Procedures (SOPs) and the loan eligibility criteria as specified by HDFC. The methodology will be the same as is done by HDFC while appraising its loans. Post the initial appraisal the loans will be approved by a senior official of HDFC and accordingly credit will be controlled by HDFC.
The loans under the program will be in the funding ratio of 80:20 (80% of the loan with HDFC and 20% Indiabulls HFL). Under the program, 20% of the credit risk by way of direct exposure shall be on the Indiabulls HFL's book till the time the loan is repaid and Indiabulls HFL will not assign its portion of the loan to any third party. Hence, Indiabulls HFL will be invested in the arrangement through the life of the loan.
HDFC will continue to have oversight on the programme post approval of loans, through the disbursement stage, as well as the post disbursement stage through the life of the loan.
HDFC will also be entitled to review and conduct audit of all the transactions carried out under the arrangement.
Shares of HOUSING DEVELOPMENT FINANCE CORP.LTD. was last trading in BSE at Rs.2414.9 as compared to the previous close of Rs. 2493.75. The total number of shares traded during the day was 107824 in over 12674 trades.
The stock hit an intraday high of Rs. 2540 and intraday low of 2406.2. The net turnover during the day was Rs. 264577122.
Shares of Indiabulls Housing Finance Ltd was last trading in BSE at Rs.165.1 as compared to the previous close of Rs. 160.8. The total number of shares traded during the day was 541252 in over 3642 trades.
The stock hit an intraday high of Rs. 168.05 and intraday low of 162.1. The net turnover during the day was Rs. 89635892.
