HDFC to raise funds up to Rs 35,000 crore on private placement basis

Housing Development Finance Corporation (HDFC) has received an approval for issuance of Secured Redeemable Non-convertible Debentures (NCD) aggregating to Rs 35,000 crore on a private placement basis under a Shelf Disclosure Document in terms of the SEBI (Issue and Listing of Debt Securities) Regulations, 2008.

The board of directors at its meeting held on January 27, 2016 has approved for the same pursuant to the approval of the shareholders of the Corporation at the 38th Annual General Meeting held on July 28, 2015.

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.