HDFC to raise up to Rs 1,000 cr via rupee denominated bonds

Housing finance major HDFC on Thursday said it plans to raise up to Rs 1,000 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 on august 31, 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 1,000 crore," Housing Development Finance Corporation (HDFC) said in a BSE filing.

The issue will open on September 1, 2016 and close on September 2.

The bonds will be listed on the London Stock Exchange.

On Thursday, HDFC said it plans to raise up to Rs 500 crore through issuance of rupee denominated bonds to overseas investors.

Shares of HDFC were trading at Rs 1,414.05 apiece, up 0.56 per cent from its previous close on BSE.