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.”