Housing financier DHFL will raise up to Rs 12,000 crore by issuing bonds on a private placement basis.
The board of directors the company approved this fund raise at the meeting held today.
DHFL said issuance of securities will be held on a private placement basis from time-to-time, depending upon the prevailing market conditions and business requirements for the ensuing quarter or till the next board meeting.
Of this, Rs 10,000 crore is proposed to be raised by floating non-convertible secured/unsecured redeemable debentures, DHFL said in a regulatory filing.
While, non-convertible subordinated unsecured debentures up to Rs 1,000 crore and non-convertible perpetual unsecured debentures of Rs 1,000 crore are to be issued under this fund raise plan.
Perpetual bonds carry no maturity and may be treated as equity than debt. A company that issues such bonds pay interest continuously and need not to redeem the principal.
Stock of DHFL closed flat at Rs 642.50 on BSE today.
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