1. HDFC to raise Rs 1,000 crore by issuing NCDs

HDFC to raise Rs 1,000 crore by issuing NCDs

Housing finance major HDFC Ltd will raise Rs 1,000 crore through an issue of non-convertible debentures (NCDs) on private placement basis

By: | New Delhi | Published: September 7, 2016 9:03 PM
Housing finance major HDFC Ltd will raise Rs 1,000 crore through an issue of non-convertible debentures (NCDs) on private placement basis. (Reuters) Housing finance major HDFC Ltd will raise Rs 1,000 crore through an issue of non-convertible debentures (NCDs) on private placement basis. (Reuters)

Housing finance major HDFC Ltd will raise Rs 1,000 crore through an issue of non-convertible debentures (NCDs) on private placement basis. The 7.7 per cent HDFC secured redeemable NCDs, maturing on February 9, 2018, will be opened on September 9 and closes on the same day.

“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. The proceeds would be utilised for meeting the object of the issue,” it said in a regulatory filing.

HDFC said only the persons who are specifically addressed through a communication are eligible to apply for the debentures. No other person can apply,” he said.

Shares of HDFC closed 0.87 per cent up at Rs 1,287.75 on BSE.

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