HDFC To Raise Rs 2,000 Cr Via Bonds Tomorrow

Mortgage lender HDFC will raise Rs 2,000 crore by issuing bonds on private placement basis to augment its long-term capital.

"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 of the Corporation," HDFC said in a filing.

The issue to raise Rs 2,000 crore will open on Wednesday and closes the same day.

HDFC said the company will specifically address the persons who are eligible for the debenture issue and no other person can apply for it.

Stock of HDFC traded 0.24 per cent up at Rs 1,759.75 on BSE.

(PTI)