HDFC launches QIP for fund raising

Housing Development Finance Corporation on Wednesday launched its fund raising through the qualified institutional placement. The decision was taken by a committee of directors set up by its board, HDFC said in a regulatory filing. The issue would comprise of an amount aggregating ₹14,000 crore by way of equity shares and warrants and up to ₹9,000 crore by secured redeemable NCDs, it said. The floor price has been set at ₹1,838.94 crore a share, while issue price may offer a discount of up to five per cent. The board will meet again on August 10 for issue of price.