Hdfc Plans Bonus Issue, Buyback

The Housing Development Finance Corporation (HDFC) is planning a bonus issue and a buy back up of to 5 per cent of its share capital. The board of the housing finance major will meet on October 17 to consider the two proposals.

This is for the first time in its 25-year history that HDFC is considering a bonus issue. The company declared 250 per cent dividend in its silver jubilee year in fiscal year 2002.