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HDFC shareholders approve raising Rs 1.25 lakh crore

Capital Market 

The housing finance major on Thursday (30 July 2020) said that its shareholders approved fund raising up to an amount not exceeding Rs 1.25 lakh crore.

At the 43rd Annual General Meeting (AGM) of the Corporation held on Thursday, HDFC's shareholders approved the issuance of redeemable non-convertible debentures and/or other hybrid instruments on private placement basis, up to an amount not exceeding Rs 1,25,000 crore.

The corporation's shareholders also approved sale of shares held in HDFC Life Insurance Company and HDFC ERGO General Insurance Company.

The scrip fell 2.33% to Rs 1768.85 on the BSE. It had traded in the range of 1760.20 and 1807 during the day.

HDFC is engaged in financing by way of loans for the purchase or construction of residential houses, commercial real estate and certain other purposes, in India.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, July 31 2020. 09:24 IST