By IANS,
Mumbai: Housing Development Finance Corp (HDFC) Wednesday said it will raise Rs.4,000 crore ($826 million) through private placement of securities.
The company has sought its shareholders’ approval for issuance of warrants with redeemable non-convertible debentures to qualified institutional buyers not exceeding Rs.4,000 crore, HDFC said in a regulatory statement.
The company’s net profit for the quarter ended June 30 increased over 20 percent to Rs.565 crore, as compared to Rs.468 crore in the corresponding period last fiscal.