HDFC ltd, the country's largest mortgage lender on Monday said it has plans to raise Rs5,000 crore by issuing non-convertible debentures (NCDs) and warrants to institutional investors to fund its business growth.
“The committee of board of directors of the corporation at its meeting held today has approved a proposal for a simultaneous offering of secured redeemable non-convertible debentures of up to Rs5,000 crore along with warrants,” HDFC ltd said in a BSE filing.
“The NCDs together with warrants will be issued to Qualified Institutional Buyers (QIBs) on a Qualified Institutional Placement basis,” it added.