Money & Banking

HDFC plans Rs 14,000 crore fund raise

Our Bureau Mumbai | Updated on June 19, 2020 Published on June 19, 2020

Housing Development Finance Corporation Ltd (HDFC) is planning to raise up to Rs 14,000 crore via various modes, including issuance of equity shares, to finance organic and/or inorganic business opportunities that may arise in financial services, among others.

The Committee of Directors of the Corporation on Friday green-lighted the proposal to seek approval of members of the Corporation through postal ballot for raising of funds not exceeding Rs 14,000 crore.

As per HDFC’s exchange filing: “The said funds are being raised to augment the long-term resources of the Corporation to finance organic and/or inorganic business opportunities that may arise in financial services including housing finance and/or in areas where its subsidiaries operate, to maintain sufficient equity and for general corporate purposes of the Corporation.”

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Published on June 19, 2020
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