MUMBAI (Reuters) - Indian mortgage lender Housing Development Finance Corp Ltd (HDFC) said it raised 18.96 billion rupees ($291 million) in a share sale to institutional investors.
HDFC sold shares at 1,825 rupees apiece, it said in a regulatory filing on Monday.
Its shares closed on Monday at 1,789.60 rupees.
HDFC has said it plans to use the proceeds from the sale to fund growth of its subsidiaries and for the potential acquisition of stressed assets in the real estate sector.
($1 = 65.1050 Indian rupees)
Also Read
(Reporting by Sankalp Phartiyal; Editing by Susan Fenton)
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app