MUMBAI, May 6 -- Aditya Birla Capital Ltd (ABCL) is proceeding with plans to raise up to $300 million through external commercial borrowings (ECBs) in the current financial year even as non-banking financial companies continue to battle a liquidity squeeze.

ABCL CEO Ajay Srinivasan said the financial institution remains unaffected by the ongoing liquidity crisis and has a strong fundraising opportunity. The holding company ABCL has already secured board approval to raise up to Rs3,500 crore through both equity and debt this year.

"We are looking to raise around $250-300 million for the non-banking finance company (NBFC) and $100 million for the housing finance company (HFC)," Srinivasan told Mint.

ABCL's plans follow close on the heels o...