HDFC plans to seek shareholders’ approval to raise Rs 45,000 crore

The board of directors of HDFC Ltd will meet on July 30 to announce the quarterly results for the first quarter ended June of the current fiscal, it said in a regulatory filing.

Topics
HDFC | Annual General Meetings | Shareholders

Mortgage lender HDFC Ltd on Monday said it is planning to raise up to Rs 45,000 crore by issuing debt securities, and will seek approval of shareholders in its upcoming AGM later this month.

The board of directors of HDFC Ltd will meet on July 30 to announce the quarterly results for the first quarter ended June of the current fiscal, it said in a regulatory filing.

The 43rd annual general meeting (AGM) of the corporation is scheduled to be held later on the same day (July 30, 2020), it added.

“At the said meeting, subject to approval of the shareholders of the Corporation,…the board of directors of the Corporation shall consider issuance of secured redeemable non-convertible debentures, in various tranches, aggregating Rs 45,000 crore on a private placement basis,” it said in the filing.

Stock of HDFC Ltd closed at Rs 1,846.50 apiece on the BSE, down 2.11 per cent from previous close.