HDFC to raise Rs 1,000 crore via debentures

NEW DELHI: Mortgage lender HDFC plans to raise Rs 1,000 crore from debentures to fund business growth.

The fund would be raised through secured redeemable non-convertible debentures, HDFC said in a statement.

The issue will open for subscription on June 15 and close the same day.

The object of the issue is to augment the long-term resources of the company, it said.

The debentures would carry a coupon rate of 8.46 per cent per annum, it added.