Mortgage lender HDFC Ltd will raise Rs 2,000 crore on private placement basis by issuing NCDs to shore up its long term capital.
HDFC will issue secured redeemable non-convertible debentures on a private placement basis on March 14 to raise the sum, it said in a regulatory filing.
The debentures will fetch investors yield of 7.45 per cent per annum. They will be up for redemption on June 14, 2018.
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“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,” it said.
Axis Bank is the arranger for the issue. Shares of HDFC closed 0.16 per cent up at Rs 1367.30 on BSE.