HDFC To Seek Shareholders’ Nod To Raise Rs 45,000 Crore
Signage for Housing Development Finance Corp. (HDFC) is displayed outside the company's offices in Mumbai, India. (Photographer: Vivek Prakash/Bloomberg)

HDFC To Seek Shareholders’ Nod To Raise Rs 45,000 Crore

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Housing Development Finance Corp. Ltd. is planning to raise up to Rs 45,000 crore by issuing debt securities and will seek approval of shareholders in its upcoming annual general meeting later this month, India’s largest mortgage lender

The board of directors of HDFC will meet on July 30 to announce the quarterly results for the first quarter ended June of the current fiscal, it said in a regulatory filing.

The 43rd AGM of the corporation is scheduled to be held later on the same day, it added.

Also read: HDFC Bank Probes Lending Practices at Vehicle Unit

“At the said meeting, subject to approval of the shareholders of the Corporation,...the board of directors of the Corporation shall consider issuance of secured redeemable non-convertible debentures, in various tranches, aggregating Rs 45,000 crore on a private placement basis,” it said in the filing.

Shares of HDFC Ltd closed at Rs 1,846.50 apiece on the BSE, down 2.11% from previous close.

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