HDFC to raise upto Rs 500 crore via rupee denominated bonds

Housing finance major HDFC on Wednesday said it plans to raise up to Rs 500 crore through issuance of rupee denominated bonds to overseas investors.

"Pursuant to the approval of the Board of Directors of the Corporation at its meetings held previously, the Corporation is contemplating, subject to market conditions, undertaking an issuance of Rupee denominated bonds to overseas investors for issue size of up to Rs 500 crore," Housing Development Finance Corporation (HDFC) said in a BSE filing.

The issue will open on August 31, and close on September 1, 2016.

The bonds will be listed on the London Stock Exchange and pricing and the tenure of the bonds will be intimated in due course, the company added.

Shares of HDFC were trading 0.77 per cent up at Rs 1,403 apiece on BSE.