HDFC Ltd to raise Rs 1,500 crore via bonds to augment capital

Mortgage lender HDFC Ltd will raise Rs 1,500 crore by issuing debt securities on private placement basis.

The secured non-convertible debentures (NCDs) will carry coupon rate of 7.5 per cent per annum.

"The object 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," it said in a regulatory filing.

The issue will open on October 13 with a tenor ending on October 12, 2018.

HDFC Ltd stock closed 0.21 per cent to Rs 1,423.80 on BSE.