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 7000 crores (Issue) at their meeting held on April 14, 2016. The Company now intends to raise its Twenty one tranche of Rs 170 crores with Green Shoe Option to retain over-subscription up to Rs 270 crores, in aggregate on private placement. The securities under this Tranche would be allotted by the consent of the Debenture Allotment Committee on September 23, 2016.
The above information is a part of company’s filings submitted to BSE.
