HDB Financial Services has informed that the Company has secured an approval from its Board of Directors to borrow funds by issue of secured redeemable non-convertible debentures on private placement basis, in one or more tranches, up to Rs 5000 crores (Issue) at their meeting held on April 14, 2016. And that, the BSE has provided an in-principle approval for this Issue vide, its letter dated June 13, 2016. The Company now intends to raise its Fifteenth tranche of Rs 275 crores with Green Shoe Option to retain over-subscription up to Rs 375 crores, in aggregate on private placement. The securities under this Tranche would be allotted by the consent of the Debenture Allotment Committee on July 27, 2016.
The above information is a part of company’s filings submitted to BSE.
