HDFC is planning to raise $300 million through external commercial borrowing (ECB) to fund its expansion. The company has not yet decided whether the raising of funds will happen this fiscal or the next one.
The Housing Finance firm is raising the money under the $1 billion ECB window for housing finance companies that the Reserve Bank allowed for funding affordable housing projects.
Last month, the company slashed interest rates by 0.25% on home loans. The new rates for HDFC home loans of up to Rs 75 lakh have come down to 10.25%, from 10.50%.
