Can Fin Homes To Raise Up To Rs 10,000 Crore Through QIP, Debt Instruments

Can Fin Homes Ltd. on Wednesday announced a fundraise plan to raise up to Rs 10,000 crore through qualified institutional placements and other debt instruments, as per the company's exchange filing.

The company also proposed raising funds through a rights issue not exceeding Rs 1,000 crore, the filing stated.

This recommendation is expected to be proposed at the ensuing annual general meeting, where the board is also set to recommend a final dividend of Rs 6 per equity share for the financial year ended March 2025. The record date for the same has been fixed as July 11.

Can Fin Homes' board of directors also approved the appointment of Swarupananda Mallick as an additional director (non-executive, independent director) of the company, effective Aug. 21, 2025, for a tenure of three years, subject to shareholder approval.

The company's net profit had risen 12% in the fourth quarter of the last financial year, beating analysts' estimate. The company posted a profit of Rs 234 crore in the quarter ended March, according to an exchange filing. Analysts tracked by Bloomberg had a consensus estimate of Rs 223 crore.

Shares of Can Fin Homes closed 0.67% lower at Rs 784.30 apiece on the NSE, compared to a 0.8% advance in the benchmark Nifty 50. The share price has fallen 12.82% in the last 12 months but has risen 3.29% on a year-to-date basis.

Eighteen out of the 22 analysts tracking the company have a 'buy' rating on the stock, three suggest 'hold' and one recommends 'sell', according to Bloomberg data. The stock's return potential was at 9%.