HDFC mops up Rs 5,000 crore by issuing bonds

Mortgage lender HDFC has raised up to Rs 5,000 crore by issuing bonds on private placement basis. The bids were opened on Friday and closed the same day.

The HDFC series W-003 October 22, 2029 secured redeemable non-convertible debentures have been issued on a private placement basis, HDFC said in a regulatory filing. "The object of the issue is to augment the long-term resources of the Corporation. Proceeds of the present issue would be utilised for financing/refinancing the housing finance business requirements of the Corporation," it said.

Stock of HDFC ended 0.69 per cent up at Rs 1,229.20 on BSE.