Mortgage firm DHFL today said it plans to raise up to Rs 22,000 crore through issuance of non convertible debentures (NCDs) on private placement basis to fund business growth in the current fiscal.
The board of director has approved issuance of securities "on private placement--non convertible secured/unsecured debentures up to an amount Rs 20,000 crore, non convertible subordinated unsecured debentures up to an amount of Rs 1,000 crore, non convertible perpetual unsecured debentures up to an amount of Rs 1,000 crore," DHFL said in a statement.
Dewan Housing Finance Corporation Ltd (DHFL) will seek shareholders' approval for the same in its annual general meeting scheduled on July 21.
Asked as to whether the company will float NCDs linked to retail inflation, DHFL Chairman and Managing Director Kapil Wadhawan said, it depends on market conditions and the requirement of the company.
Last fiscal, the mortgage firm had raised Rs 14,000 crore through a retail bond sale, which offered interest rates linked to consumer price-based inflation.
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