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HDFC gets nod to raise funds worth Rs 35,000 crore via NCDs

30 Jul 2018 Evaluate

Housing Development Finance Corporation (HDFC) has received an approval to issue secured redeemable non-convertible debentures (NCDs) aggregating to Rs 35,000 crore on a private placement basis under a Shelf Disclosure Document. The Board of Directors of the company at their meeting held on July 30, 2018, approved the same.

The Board has also given approval to raise External Commercial Borrowing (ECB) up to $1.5 billion equivalent from financial institutions, banks, multilateral financial agencies, mutual funds, body corporate, firms, association of persons or such other entities.

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.

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