HDFC to raise Rs 4,000 cr


HDFC decided to make an issue of the following securities to QIBs on a Qualified Institutions Placement (QIP) basis, in terms of the Special Resolution passed by the Shareholders at theAnnual General Meeting.
 
The issue of 109,53,706 Warrants with a right exercisable by the warrant holder to exchange the said warrant with one equity share of face value of Rs 10 each of the Corporation, is to be any time before the expiry of a period of 3 years from the date of its allotment. This will be followed by another Issue of 20,000 Zero per cent Secured Redeemable Non-Convertible Debentures (NCDs) of the face value of Rs 10,00,000 each due August 2011 for cash aggregating to Rs 2,000 crore; and  Issue of 20,000 Zero per cent. Secured Redeemable Non-Convertible Debentures (NCDs) of the face value of Rs 10,00,000 each due August 2012 for cash aggregating to Rs 2,000 crore.  

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