Markets
BSE See NSE See 37,973.22
-8.41 (-0.02%)

HDFC targets raising capital of up to Rs 1.25 lakh crore

Anthony Fernandes
/ Categories: DSIJ Mindshare, DSIJ News
Rate this article:
4.1
HDFC targets raising capital of up to Rs 1.25 lakh crore

According to its 2019-20 annual report, HDFC Limited has plans to secure up to Rs 1.25 lakh crore by issuing debt securities via various modes.

The housing finance major stated that it will attain required shareholder approval through a special resolution in its annual general meeting on July 30, 2020. It will raise the capital through the issue of secured or unsecured redeemable NCDs along with other hybrid instruments if needed, which may be classified as Tier II capital under the provisions of the Housing Finance Companies (NHB) Directions, 2010. The amount raised will not exceed Rs 1.25 lakh crore.

If approved, the debt securities will be issued in one or more series on a private placement basis during a period of one year commencing from the date of the forthcoming annual general meaning. Further, the company added that the amount raised will be within the overall limit of borrowing as authorized by the members, from time to time, and will be on terms and conditions the board seem fit and appropriate for each series.

HDFC Limited's stock was trading at Rs 1,882.75 at 1 pm on Friday, down by 0.35 per cent or Rs 6.55 per share. The 52-week high is recorded at Rs 2,499.65 and the 52-week low is Rs 1,473.10 on BSE.

Previous Article Reliance gets Rs 1,894.5 crore investment from Intel Capital
Next Article Steel Strips: Mehsana plant order book gives five year visibility

Please login or register to post comments.

DSIJ MINDSHARE

12345Last