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.

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

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For three years, the fund was raised.

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

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

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

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