Established on January 28th, 1991, Ind Bank Housing Limited (IBHL) began its operations on February 5th, 1991, focusing on offering long-term financial solutions to both individuals and businesses for the construction or acquisition of residential properties in India. IBHL is a collaboration between Indian Bank (holding 51% equity) and HUDCO (holding 25% equity).
In October 1991, IBHL conducted a public offering of 2.4 million equity shares at par value, amounting to Rs 2.4 crore. The proceeds from this offering were used to partially finance housing loans totaling Rs 100 crore. The company has established branches in key cities such as Chennai, Coimbatore, Madurai, Thanjavur, Puducherry, Hyderabad, Mangalore, Bangalore, Vishakapatnam, among others, totaling 14 branches.
In the year 2000, the company allocated Rs 3.57 crore for 350 units as part of the Golden Jubilee Special Rural Housing Scheme, initiated by the National Housing Bank to improve living conditions in rural areas.
During the financial year ending on March 31st, 2001, the company sanctioned new housing loans worth Rs 0.13 crore for housing construction/purchase. The cumulative loan sanction amount by the company as of March 31st, 2001, stood at Rs 269.08 crore.
However, from the year 2000 onwards, the company faced challenges due to a slowdown in the real estate sector, leading to a rise in non-performing assets (NPAs). Consequently, the company ceased new lending activities and shifted focus towards recovering existing loans. Nevertheless, prompted by changing market dynamics and the availability of Government subsidies for individual housing loans under the PMAY scheme, the company initiated steps to resume its operations.
In October 1991, IBHL conducted a public offering of 2.4 million equity shares at par value, amounting to Rs 2.4 crore. The proceeds from this offering were used to partially finance housing loans totaling Rs 100 crore. The company has established branches in key cities such as Chennai, Coimbatore, Madurai, Thanjavur, Puducherry, Hyderabad, Mangalore, Bangalore, Vishakapatnam, among others, totaling 14 branches.
In the year 2000, the company allocated Rs 3.57 crore for 350 units as part of the Golden Jubilee Special Rural Housing Scheme, initiated by the National Housing Bank to improve living conditions in rural areas.
During the financial year ending on March 31st, 2001, the company sanctioned new housing loans worth Rs 0.13 crore for housing construction/purchase. The cumulative loan sanction amount by the company as of March 31st, 2001, stood at Rs 269.08 crore.
However, from the year 2000 onwards, the company faced challenges due to a slowdown in the real estate sector, leading to a rise in non-performing assets (NPAs). Consequently, the company ceased new lending activities and shifted focus towards recovering existing loans. Nevertheless, prompted by changing market dynamics and the availability of Government subsidies for individual housing loans under the PMAY scheme, the company initiated steps to resume its operations.
