Housing Development Finance Corporation (HDFC) is planning to raise up to Rs 5,000 crore by issuing non convertible debentures (NCDs) on a private placement basis. The object of the issue is to augment the long-term resources of the Corporation. The proceeds of the present issue would be utilised for financing/refinancing the housing finance business requirements of the Corporation.
The base size of the issue of secured redeemable NCDs is Rs 2,000 crore with an option to retain oversubscription up to Rs 3,000 crore.
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.
