Housing Development Finance Corporation (HDFC) has decided to raise Rs 500 crore by issuing secured redeemable non-convertible debentures (NCDs) of three-year tenor on private placement basis at a coupon of 7.67 percent. The company will use the issue proceeds to finance/re-finance its business. The minimum subscription is one debenture of Rs 1 crore each and in multiples of one debenture thereafter. The issue will open and close for subscription on May 19, 2017.
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.
