Andhra Pradesh - Others   

APSFC contemplating public issue

Rajahmundry: The Andhra Pradesh State Financial Corporation (APSFC) is contemplating going in for public issue as it is getting profits and increasing capital adequacy ratio.

Addressing a press conference after meeting entrepreneurs of East Godavari district on Thursday, Corporation’s Managing Director and senior IAS officer A. Giridhar and Chairman J. Rambabu said that as of now they were purchasing bonds from banks and extending loans to entrepreneurs.

Mr. Giridhar said they got Rs. 700 crores worth proposals last year out of which they had disbursed loans to the tune of Rs.350 crores and this year their target was Rs.900 crores.

He said in next three years the APSFC was going to be $ 1-billion Corporation and at present the total assets of the Corporation stood at Rs.1,300 crores.

“In next three years our target is Rs.4,500 crores with 30 per cent increase,” Mr. Giridhar said.

According to him the SFC is going to refinance Rs.100 crores this year with co-financing from the HUDCO, the NABARD and the SIDBI.

The MD said the capital assets were Rs.250 crores and they were planning industrial park in Hyderabad on 270 acres of land, which was allotted by the Government.

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