The QIP component is slated to be around Rs 7,000 crore and the convertible component around Rs 5,000 crore
India’s largest private sector mortgage financier Housing Development Finance Corporation (HDFC) is gearing up for a mega fund raise of around Rs 12,000 crore in multiple tranches, sources with knowledge of the matter told Moneycontrol.
“HDFC has held discussions with merchant bankers in the past few weeks and is looking to raise around Rs 12,000 crore via a combination of a QIP (qualified institutional placement) and an NCD (non-convertible debenture ) + warrant or FCCB ( foreign currency convertible bond route),” one of the individuals cited above told Moneycontrol.
“The QIP component is slated to be aro und Rs 7,000 crore and the convertible component around Rs 5,000 crore. The plan is for each chosen instrument to be launched separately,” a second individual added, warning that no final decision on the quantum or fund raising instruments has been taken yet by the NBFC behemoth.
Source : Moneycontrol.com
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