HDFC to raise Rs 5,000 crore by issuing bonds on private placement basis to meet business requirements

Firstpost
May 07,2020

New Delhi: Mortgage lender HDFC Ltd plans to raise up to Rs 5,000 crore by issuing bonds on private placement basis to meet its business requirements.
HDFC will issue secured redeemable non-convertible debentures on private placement basis with an issue size of Rs 2,500 crore and an option to retain over-subscription of up to Rs 2,500 crore, according to a regulatory filing.
"The object of the issue is to augment the long-term resources of the Corporation. The proceeds of the present issue would be utilised for financing /refinancing the housing finance business requirements of the Corporation," HDFC said.
Its shares closed 2.49 percent higher at Rs 1,732.95 apiece on the BSE on Wednesday.

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