The option left for NBFCs and HFCs then to survive was to raise funds through securitisation. Banks are now cherry-picking these quality portfolios, at a very high cost for the NBFCs and HFCs. We also have a very successful general insurance business that is completely owned by us and is growing way faster than the market. I can go back and shed a tear that I started the company and invested the first Rs 10 crore. The quality of our general insurance business is top class, and we are presently in exclusive discussions covered by an NDA with a strategic buyer, and cannot comment further.

Source: Economic Times May 28, 2019 01:18 UTC