Housing finance major HDFC LTD plans to raise up to around Rs 1.25 lakh crore in a year by issuing the debt securities through various modes, according to its annual report for 2019-2020.
The Housing Development Finance Corporation (i.e. HDFC) Limited will convene its annual general meeting (i.e. AGM) on July 30 and also will seek shareholders’ approval for the capital raise plan as well.
HDFC plans to raise up to around Rs 1.25 lakh crore in 1 year
HDFC will convene its AGM on July 30 and also will seek shareholder’s approval for the capital raise plan.
The debt securities, as it told, may be issued by the Corporation and also in one or more series, that during a period of one year commencing from the date of this Annual General Meeting, on a private placement basis and also on such terms and conditions as the Board that may deem fit as well as appropriate for each series.
The borrowings that including by way of issue of NCDs and/or any other hybrid instruments would be within the overall limit of the borrowing as approved by the members of the Corporation, as from time to time, as it added accordingly.
“The re-appointment of the Renu Sud Karnad as of the Managing Director of the Corporation that should be with effect from 1st January 2020 and till 2nd September 2022.” Additionally, During the term, Karnad, 67, which shall continue to be a member of the Board and also shall be liable to retire by rotation, as it added as well.
Further, it told the HDFC Board has also been designated Karnad in her capacity as the Managing Director as a key managerial person of the Corporation as well.
“Salary that payable to the Karnad should be in the range of around Rs 15,00,000 to at around Rs 27,00,000 per month that was approved by the Members of the Corporation at the AGM which held on 26th July 2017), ” as HDFC added accordingly.
She was re-appointed as the MD of the company for a period of about five years with effect from January 1, 2015.
HDFC shares closed at around Rs 1,889.30 apiece on BSE, up to2.95 per cent from the previous close.