HDB Financial Services informs about business updates

HDB Financial Services has informed that the Company has secured an approval from its Board of Directors to borrow funds by issue of secured redeemable non-convertible debentures on private placement basis, in one or more tranches, up to Rs 7000 crores (Issue) at their meeting held on April 14, 2016. The Company now intends to raise its Twenty Two tranche of Rs 300 crores, in aggregate on private placement. The securities under this Tranche would be allotted by the consent of the Debenture Allotment Committee on September 28, 2016.

The above information is a part of company’s filings submitted to BSE.