HDFC board approves fund raising of up to Rs. 14,000 crore

The committee of directors of Housing Development Finance Corporation Limited (HDFC) at its meeting held today i.e., June 19, 2020, approved seeking approval of members of the corporation through postal ballot for raising of funds not exceeding Rs. 14,000 crore, through issuance of equity shares or compulsorily convertible debentures, non-convertible debentures along with warrants, foreign currency convertible bonds or any other security, whether secured / unsecured or listed / unlisted, or a combination thereof, either through qualified institutions placement and / or any other permissible mode(s) in one or more tranches.

The said funds are being raised to augment the long-term resources of the corporation, to finance organic and / or inorganic business opportunities that may arise in financial services including housing finance and / or in areas where its subsidiaries operate, to maintain sufficient liquidity and for general corporate purposes of the corporation.

Shares of HOUSING DEVELOPMENT FINANCE CORP.LTD. was last trading in BSE at Rs.1839.1 as compared to the previous close of Rs. 1855.15. The total number of shares traded during the day was 292403 in over 12155 trades.

The stock hit an intraday high of Rs. 1866.85 and intraday low of 1815. The net turnover during the day was Rs. 537040529.

Source : Equity Bulls

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