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Mortgage lender Housing Development Finance Corporation Ltd. (HDFC) is considering to raise ₹57,000 crore ($6.9 billion) debt. “The Board of Directors of HDFC will be meeting on Monday, March 27, 2023 to consider issuance of unsecured redeemable non-convertible debentures, in various tranches, under a Shelf Placement Memorandum, aggregating ₹57,000 crore on a private placement basis,” HDFC stated in a submitting with the inventory exchanges.
This is in accordance with the approval granted by the shareholders of HDFC on the forty fifth Annual General Meeting held on June 30, 2022. Meanwhile, the Mumbai bench of the National Company Law Tribunal (NCLT) on Friday sanctioned the composite scheme of amalgamation of HDFC Investments Ltd. and HDFC Holdings Ltd., the wholly owned subsidiaries of HDFC Ltd. with and into HDFC Ltd., and HDFC Ltd. with and into HDFC Bank Ltd.
