Dewan Housing Finance Corporation Ltd (DHFL) today said it proposes to raise up to Rs 500 crore from debentures to fund business expansion.
The company plans to issue secured redeemable non-convertible debentures amounting to Rs 500 crore including a greenshoe option of up to Rs 250 crore on a private placement basis, DHFL said in a filing to stock exchanges.
This is pursuant to special resolution passed by the shareholders of the company at the 33rd Annual General Meeting held on July 21, 2017, it added.
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