HDB Financial Services Ltd to raise Rs. 243 crores on Private Placement

HDB Financial Services Ltd has secured an approval from its Board of Directors to borrow funds by issue of secured redeemable non-convertible debentures on private placement basis, in one or more tranches, upto Rs. 5000 crores ("Issue") at their meeting held on July 15, 2015. And that, the BSE has provided an in-principle approval for this Issue vide, its letter dated December 08, 2015.

The Company now Intends to raise its seventh tranche (Series 76) of Rs. 243 crores on private placement. The securities under this Tranche would be allotted by the consent of the Debenture Allotment Committee on March 14, 2016.

Source : Equity Bulls

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