Star HFL board approves capital raise of Rs 9.44 crore by way of preferential allotment

Star Housing Finance Limited (Star HFL), has announced that its board has approved capital raise proposal by way of issue and allotment up to 10,61,340 fully paid up equity shares of face value of Rs.10  each at an issue price of Rs.89  including a premium of Rs.79 each for an allotment size of Rs.9.44 crore by way of preferential allotment. The transaction is subject to customary regulatory approvals as well as approval by shareholders. 

Star Housing Finance Limited (Star HFL) is BSE listed housing finance company. The Company has been operational in the affordable housing finance space since the commencement of business operations in Sep 2009. Star HFL works with intent to enable homeownership through providing housing finance to target EWS/LIG customers. 

On Friday, Star HFL was trading at Rs 103 per share, which is 0.15 per cent up on BSE. The stock has zoomed 14.44 per cent in last 1 month and 24.47 per cent in last 6 months.