HDFC to raise up to Rs 7,500 cr by issuing bonds next week

New Delhi, Apr 3 () Mortgage lender HDFC Ltd will raise up to Rs 7,500 crore by issuing bonds on a private placement basis, the company said on Friday.

The base issue size of non-convertible debentures (NCDs) is Rs 2,500 crore with the green shoe option of Rs 5,000 crore.

The object of the issue is to augment the long-term resources of the lender, it said in a regulatory filing.

"The proceeds of the present issue would be utilised for financing/ refinancing the housing finance business requirements of the corporation," it added.

The NCDs with a coupon rate of 7.20 per cent will be open for offer on April 8 to the designated persons or entities.

Shares of HDFC Ltd on Friday closed at Rs 813.50 apiece, down 1.95 per cent from the previous close, on the BSE. KPM HRS