HDFC board plans to raise Rs 57,000 cr via NCDs on Mar 27

The housing finance major said that its board will meet on Monday, 27 March 2023, to consider raising of funds through issuance of non-convertible debentures in various tranches aggregating to Rs 57,000 crore, on private placement basis.

In an exchange filing, Housing Development Finance Corporation (HDFC) said, A meeting of the board of directors of the corporation is scheduled to be held on Monday, March 27, 2023 to consider issuance of unsecured redeemable non-convertible debentures, in various tranches, under a Shelf Placement Memorandum, aggregating Rs 57,000 crore on a private placement basis.

HDFC is a leading provider of housing finance in India. Its distribution network spans 724 outlets which include 213 offices of HDFC’s distribution company, HDFC Sales (HSPL). HDFC covers additional locations through its outreach programmes. Distribution channels form an integral part of the distribution network with home loans being distributed through HSPL, HDFC Bank and third party direct selling associates. The corporation also has online digital platforms for loans and deposits.

The company’s standalone net profit rose 13.19% to Rs 3,690.80 crore on 29.3% increased in total income to Rs 15,246.81 crore in Q3 FY23 over Q3 FY22.

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