Moneycontrol PRO
Check Credit Score
Check Credit Score
HomeNewsBusinessCompanies

Plan to utilise part of proceeds to set up stressed asset fund in realty sector: HDFC

India's biggest mortgage lender HDFC has informed the exchanges that it plans to raise around Rs 11,000 crore. They will do it via issuing preference shares to the shareholders. That's not all; the HDFC board also approved raising around Rs 1,896 crore through qualified institutional buyers.

January 13, 2018 / 03:41 PM IST

India's biggest mortgage lender HDFC has informed the exchanges that it plans to raise around Rs 11,000 crore. They will do it via issuing preference shares to the shareholders. That's not all; the HDFC board also approved raising around Rs 1,896 crore through qualified institutional buyers.

In an interview to CNBC-TV18, Keki Mistry, VC & CEO of HDFC spoke at length about fund raising.

Mistry said that we are eyeing inorganic opportunities in mortgage lending space.

He further said that we plan to utilise a part of proceeds to set up a stressed asset fund in realty sector.

We are evaluating many opportunities of inorganic growth in health insurance business, he added.

Watch accompanying video for more details.

CNBC-TV18
Tags: #Business
first published: Jan 13, 2018 03:36 pm

Discover the latest business news, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347