Mortgage lender Housing Development and Finance Corporation (HDFC) plans to raise Rs 45,000 crore via a bond issue in various tranches on a private placement basis.
"We wish to inform you, subject to the approval of the shareholders of the Corporation at the 42nd Annual General Meeting scheduled to be held later on the same day i.e., August 2, 2019, the Board of Directors of the Corporation shall consider the issuance of secured redeemable non-convertible debentures, in various tranches under a Shelf Disclosure Document, aggregating Rs 45,000 crore on a private placement basis," said the lender in a notification to the exchanges.
HDFC will put up for vote its fundraising proposal at the company's annual general meeting on August 2. It will also announce its Q1 result 2019-20 on the same day.
On Wednesday, HDFC shares fell 0.19 percent to Rs 2,489.50 apiece on the BSE while the benchmark Sensex gained 0.06 percent to end the day at 39,839.25 points....