HDFC to seek shareholders' nod to raise borrow more

Private sector mortgage lender HDFC will seek next month shareholders’ approval for raising its borrowing limit to Rs 3 lakh crore.

Presently, it can borrow up to Rs 2 lakh crore, while its total borrowings as on March 31, 2013 stood at Rs 1,58,828 crore.

“In view of the growth in business of the Corporation, it may be necessary for the Corporation to borrow monies from various sources, from time to time, consequent to which the amount outstanding could exceed the present limit of Rs 2,00,000 crore,” HDFC said.The shareholders’ nod would be sought at HDFC’s Annual General Meeting to be held in Mumbai on July 19.