HDFC plans to raise Rs 35,000 crore via bonds

Housing Development Finance Corporation (HDFC) on Tuesday announced plans to raise up to Rs 35,000 crore by issuing bonds on a private placement basis.

The HDFC board of directors will seek approval of shareholders in the ensuing annual general meeting to be held on July 30. It will also declare the financial results for the first quarter ended June of the current fiscal on the same day.

The mortgage lender will also seek permission to raise up to $1.5 billion through external commercial borrowing (ECB), HDFC said in a regulatory filing.

For the ECB, the HDFC said it will tap sources such as financial institutions, banks, multilateral financial agencies, mutual funds, corporate body among others. Shares of HDFC closed 0.64 per cent up at Rs 1,979.20 on BSE on Tuesday.

(With inputs from agencies)

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