HDFC to raise Rs4,000 cr via QIP

HDFC to raise Rs4,000 cr via QIP
PTI
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First Published: Wed, Jul 22 2009. 07 18 PM IST
Updated: Wed, Jul 22 2009. 07 18 PM IST
Mumbai: Mortgage lender Housing Development Finance Corporation Ltd (HDFC) on Wednesday said that it will raise up to Rs4,000 crore through private placement of securities.
The company’s chairman, Deepak Parekh, at the annual general meeting has sought shareholders’ approval for issuance of warrants with redeemable non-convertible debentures (NCDs) to qualified institutional buyers not exceeding Rs4,000 crore, HDFC said in a statement.
HDFC reported a 21% growth rate in net profit at Rs564.92 crore for the first quarter ended 30 June, 2009. The biggest lender in housing sector had a net profit of Rs468.11 crore in the same quarter of FY’09.
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First Published: Wed, Jul 22 2009. 07 18 PM IST