, photo credit: file photo

Mortgage lender Housing Development Finance Corporation Ltd (HDFC) is looking to raise ₹57,000 crore ($6.9 billion) in debt. “The meeting of the Board of Directors of HDFC will be held on Monday, March 27, 2023, to consider the issue of unsecured redeemable non-convertible debentures in various tranches under a Shelf Placement Memorandum, aggregating to ₹57,000 crore on private placement basis HDFC said in a filing with the stock exchanges.

This is as per the approval given by the shareholders of HDFC at the 45th Annual General Meeting to be held on June 30, 2022. Meanwhile, the Mumbai bench of the National Company Law Tribunal (NCLT) on Friday approved the overall scheme of amalgamation of HDFC. Investments Limited and HDFC Holdings Limited, HDFC Limited with and wholly owned subsidiaries of HDFC Limited, and HDFC Limited with and in HDFC Bank Limited.