HDFC to raise Rs 14,000 crore, fixes Rs 1,838 as floor price for QIP

Mortgage lender will use part of capital to fund inorganic opportunities and investments in existing group businesses

Housing Development Finance Corporation’s (HDFC’s) Qualified Institutional Placement (QIP) for equity shares opened for subscription on Wednesday with a floor price of Rs 1,838.94 per share. It is looking to raise Rs 14,000 crore of equity capital.

HDFC might offer a five per cent discount on the floor price. Its share closed almost flat at Rs 1,776.9 per share on the benchmark BSE Sensex.

The mortgage lender is also looking to raise Rs 9,000 crore through secured non-convertible debentures.

The company will use part of fresh capital for funding inorganic opportunities and investments in existing group businesses. It is also looking at setting