Indian Polyfins

SBI Home Finance SBl HOME FINANCE, promoted by State Bank of India and the Housing Develop- ment Finance Corporation, has been providing for the past six years long-term finance for housing to individuals, corporate bodies and promoters and developers of building complexes with sanctions of Rs 47.80 crore for 1991-92 a net profit of Rs 1.03 crore. Till now the company has operated in the east and north-east regions of the country. It is now opening up in cities like Bombay and Hyderabad and other places. It has estimated its requirement of funds at Rs 61.35 crore, Rs 40 crore of it towards housing loans, Rs 10 lakh for investment in fixed assets and Rs 21.25 crore for current assets. The projected requirement is to be met with Rs 30 crore of bank borrowings, Rs 2.35 crore of cash accruals, Rs 9 crore through deposits, Rs 10 crore of repayment of loans advanced and Rs 10 crore of public issue of share capital. The company is issuing one crore equity shares of Rs 10 each at par and offering out of this 40.97 lakh shares to the public on February 15 with 1DB1 as lead manager.