Star Housing Finance Limited (Star HFL) has received the members agreement for a bonus issue at its shareholders meeting on December 6, 2022 . The shareholders also accepted the proposal to split the companys stakes .
Star Housing Finance Limited (Star HFL), a rural focused HFC in Mumbai (Maharashtra), (Scrip code: 539017), has received the members' agreement for a bonus issue at its shareholders meeting on December 6, 2022.The shareholders also accepted the proposal to split the company's stakes.The board of directors of the company has set a new bonus equity share for each existing fully paid-up equity share, as well as the subdivision of the company's one equity share of the face value of Rs 10 into two equity shares of the face value of Rs 5 each, according to Ashish Jain, MD of Star HFL.This action is in keeping with our philosophy of providing long-term value to our clients.
As the first milestone, the Star HFL team looks forward to continue its growth path to become a Systemically Important HFC.We have established an office network that covers 40 districts in five operational geographies that are leading the AUM development, according to Kalpesh Dave, Head Corporate Strategy.Our development is backed by a quality and risk framework that is similar to our target audience of first-time home owners in semi-urban rural areas, according to EWS LIG.Our net worth has surpassed Rs. Over the past 12 months, three successful capital raising rounds have brought 100 crs.To complement the burgeoning success, the liability business is going hand in hand with it.Through balance sheet strengthening, the firm aims to ensure that ROTA is profitable for its shareholders.Star Housing Finance Limited (Star HFL), which is formerly known as Akme Star Housing Finance Company (BOM: 539017), is a BSE listed rural-focused housing finance company (Scrip code: 539017). The organization is managed by a team of highly skilled housing finance professionals from various locations and business functions.Star HFL is a Primary Lending Institution (PLI) under the Pradhan Mantri Awas Yojana (PMAY) and has its headquarters in Mumbai.