Indian Shadow Lender Shriram May Seek Investor for Housing Unit
- Shriram Housing needs some 5 billion rupees around mid-2021
- India seeing demand for home loans amid low interest rates
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Shriram City Union Finance Ltd., an Indian shadow lender backed by Apax Partners, may seek investors to fund growth at its housing finance unit.
Shriram Housing Finance would need about 5 billion rupees ($68 million) in the next three to four months, said Shriram City Chief Executive Officer Yalamati Srinivasa Chakravarti. A couple of investors have approached Shriram, he said, declining to share names.