Housing Development Finance Corporation (HDFC) has decided to raise Rs 5,000 crore via secured redeemable non-convertible debentures (NCDs) and warrants. The NCDs, together with the warrants, will be issued to qualified institutional buyers, subject to approval of the shareholders of the company at the annual general meeting scheduled to be held on July 28, 2015. The warrant holder will be entitled to exchange the warrants with the equity shares of the company in a stipulated period (maximum period being five years currently). The board at its meeting held on June 08, 2015 has approved the same.
HDFC offers a whole gamut of products like loans to individuals, loans to corporates, construction finance, and lease rental discounting. The financial conglomerate has subsidiaries and associates in insurance (general and life), asset management, education finance, venture funds and banking services.
