mumbai the sanjiv bajajled bajaj finserv is set to float a home finance company hfc after plans to convert into a bank did not materialize with the reserve bank of india playing it cautious with licences the company has said that it will apply to the national housing bank for a licence to set up an hfc it envisages a capital requirement of rs 200300 crore in the initial twothree years bajaj finserv is the holding company for the groups financial service business which includes lending and insurance we are already extending home loans but this is under our finance company we had not floated an hfc earlier as we wanted to first build the capabilities and the benefits of a separate entity was not felt as the size of the book was small said sanjiv bajaj md bajaj finserv the company has a home loan book of around rs 1400015000 crore which includes loan against propertyat present the bank is focusing on three segments loan against mortgage of house for businessmen home loans for selfemployed and home loans for the salaried the advantages include additional avenues of borrowings lower risk weights for certain class of loan easier legal repossession amid others says rajeev jain ceo bajaj finance the lending arm of the group