HDB Financial Services has informed that the Company has secured an approval from its Board of Directors to borrow funds by issue of Unsecured redeemable Subordinate Bonds on private placement basis, in one or more Tranches/Series, up to Rs 1500 crores (‘Issue’) at their meeting held on April 16, 2018. The Company now intends to raise its First Series under the aforesaid Issue of Rs 125 crores with Green Shoe Option to retain oversubscription up to Rs 250 crores, in aggregate on private placement. The securities under this Series would be allotted by the consent of the Bond Allotment Committee on July 27, 2018.
The above information is a part of company’s filings submitted to BSE.
