Shriram Housing Finance's first external commercial borrowing raised $50 million.

The ECB's funds will be utilised to finance the purchase of affordable houses.

The mortgage lender obtained the funding from the London Branch of Canara Bank.

For three years, the fund was raised.

The total cost with one-year hedging costs was around 8.4%.

The business further borrows money from banks, the debt capital market, and National Housing Bank for refinancing.

To support the growth momentum, the company is also looking to expand its equity by about $100 million by the end of this fiscal