Fullerton India raised funds to finance lending operations

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Fullerton India raised funds to finance lending operations

Fullerton India Credit Company Ltd, a financial firm based in Temasek, plans to raise $ 100 billion in FY19 to finance its lending activities. Rajashree Nambiar, CEO, and MD of Fullerton India said borrowing would be done through a combination of bank lines, bonds, transaction papers, and stocks. The company raised about Rs 70 billion in 2017-18.

Like many financial firms and financial assets that engage retail investors to earn money on bonds, Fullerton can also issue securities (bonds) to small investors. According to the presentation of the FY18 result, the company has raised $ 69 billion in fixed bonds and loans (NCDs), from Rs. 54 billion to FY17. Assets management (AUMs)  increased by 36% from FY18 to Rs. 157.75 billion.

About one-third (33 percent) of its business comes from rural areas – 17.9 percent from group loans and 15.5 percent from business loans. Fullerton India Personal Loan also accounts for 33.3% of the business – with the dividend rate at 23.2% and the business class at 10.1 percent. The mortgage loan is as high as 26.1 percent. The car sales loan rate is about 7.2 percent.

The southern region leads in regional exports, with 36.5 percent, followed by the west with 32.7 percent, and the north with 27.5 percent. The eastern region’s share was very small at 3.3 percent. It had 559 branches, with nearly two million customers by March 2018. Fullerton has identified a medium-term need for more than Rs 40 billion. Temasek is a Singapore-owned company.

Its capital adequacy rate was 18.9 percent with tier-I of 15 percent in March 2018. During the FY17 and H1FY18, profits were affected by demon possession. This has led to an increase in discipline, especially in the rural portfolio. However, profits have improved in FY18. The total profit of FY18 has increased to Rs 3.54 billion from Rs 2.14 billion to FY17. Revenue from FY18 has increased from Rs 17.76 billion from Rs 16.08 billion to FY17.

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