To enhance its long-term capital base, the private sector mortgage lender, HDFC will come up with a bond issue on Wednesday. The bonds shall be issued on a private placement basis.
In a filing to the exchange the lender said, "The objective of the issue is to augment the long-term resources of the corporation. The proceeds of the present issue would be utilised for financing/refinancing the housing finance business requirements of the corporation."
The issue which opens tomorrow i.e Wednesday shall close on the same day. For the issue, the company will cater to only those who are eligible and others shall not be able to apply for the same.
On the BSE, shares of the company were trading higher 0.24 per cent at Rs 1,759.75.