NEW DELHI: The country's largest mortgage lender HDFC Ltd will raise Rs 2,000 crore by issuing debt securities on private placement basis.
The security -- 6.96 per cent HDFC, 28 Dec 2018 -- will be in the nature of secured redeemable non-convertible debentures to be issued on a private placement basis, HDFC said in a regulatory filing.
"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," it added. The issue opens August 28 and closes on the same day. HDFC stock closed 0.33 per cent down at Rs 1,767.15 on BSE today.