Housing Development Finance Corporation (HDFC) is planning to raise about Rs 11,100 crore from a preferential share sale to investors including affiliates of Singapore state investor GIC and private equity KKR & Co. LP. A committee of directors of the mortgage lender on January 13, 2017, approved selling 64.3 million shares at Rs 1,726.05 a piece to the investors.
Separately, the company will also sell shares to institutional investors through Qualified Institutions Placement (QIP) to raise up to Rs 1,896 crore.
HDFC's fund-raising is mainly aimed at investing in a preferential share issue by HDFC Bank, which will help the mortgage lender maintain its about 21 per cent stake in the bank.
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.
| Company Name | CMP |
|---|---|
| LIC Housing Finance | 581.30 |
| Housing & Urban Dev. | 232.30 |
| Bajaj Housing Financ | 87.55 |
| Piramal Finance | 2017.85 |
| PNB Housing Finance | 1090.90 |
| View more.. | |
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