Gold Silver Reports (GSR) – HDFC To Raise Rs 1,900 Crore; Shares Rise — India’s largest mortgage lender Housing Development Finance Corporation Ltd. is set to sell shares to institutional investors to raise about Rs 1,900 crore as part of its Rs 13,000-crore plan to mop up funds to invest in its banking and other subsidiaries.
The housing finance company will launch a qualified institutional placement this week, two people privy to the proposed transaction told BloombergQuint on condition of anonymity. The demand and initial feedback from large marquee investors is quite strong, one of them said.
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Shares of HDFC were trading 1 percent higher at Rs 1,844. – Goldman Neal Bhai Reports – INDIA
