HDFC to raise Rs 1,000 cr via debentures

Mortgage lender HDFC plans to raise Rs 1,000 crore from debentures to fund business growth.

The fund would be raised through secured redeemable non-convertible debentures, HDFC said in a statement.

The issue will open for subscription on June 15 and close the same day.

The object of the issue is to augment the long-term resources of the company, it said.

The debentures would carry a coupon rate of 8.46 per cent per annum, it added.