Housing Development Finance Corporation (HDFC) is planning to raise up to Rs 8500 crore by issuing bonds on a private placement basis to shore up long-term capital needs. The object of the issue is to augment the long-term resources of the Corporation.
The secured redeemable non-convertible debentures (NCDs) with an issue size of Rs 500 crore and option to retain oversubscription up to Rs 8500 crore are to be allotted on a private placement basis.
HDFC offers a whole gamut of products like loans to individuals, loans to corporates, construction finance, and lease rental discounting. The financial conglomerate has subsidiaries and associates in insurance (general and life), asset management, education finance, venture funds and banking services.