HDFC Board Meeting on Mar 27: Consideration to Raise Rs 57,000 Crore

  • Investing.com
HDFC Board Meeting on Mar 27: Consideration to Raise Rs 57,000 Crore
Credit: © Reuters.

By Malvika Gurung

Investing.com -- India’s largest mortgage lender Housing Development Finance Corporation (NS: HDFC ) is scheduled to convene a board meeting this week for consideration of raising funds not more than Rs 57,000 crore.

HDFC had announced that its Board of Directors will meet on Monday, March 27, 2023, for consideration to issue unsecured redeemable nonconvertible debentures in multiple tranches, aggregating to Rs 57,000 crore on a private placement basis.

The mega-cap giant’s shareholders had given a green signal for the issuance of said debentures, under a Shelf Placement Memorandum at the 45th Annual General Meeting held on June 30, 2022.

In February 2023, the financial behemoth had raised a total of Rs 25,000 crore via a 10-year non-convertible debenture issue. 

Despite a volatile week, HDFC witnessed its market capitalization rising by Rs 384.89 crore to Rs 4,69,845.34 crore in the week ending on March 24, 2023. Its shares dipped 0.39% to Rs 2,559.9 apiece in Friday’s trade.

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