The secured redeemable non-convertible debentures will be issued on a private placement basis to persons who are specifically addressed through a communication, HDFC said in a regulatory filing.

Mortgage lender HDFC Ltd on Friday said it will raise up to Rs 3,000 crore by issuing bonds to augment its long-term resources. The secured redeemable non-convertible debentures will be issued on a private placement basis to persons who are specifically addressed through a communication, HDFC said in a regulatory filing. The issue size is of Rs 2,000 crore with an option to retain subscription up to Rs 3,000 crore.

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“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,” it said. HDFC shares closed 3.93 per cent up at Rs 2,052.25 on BSE.