HDFC to raise Rs. 2,000 cr on pvt placement basis via bonds

Mortgage lender HDFC will raise Rs. 2,000 crore by issuing debt securities on private placement basis.The ‘7.55 per cent HDFC, 20 February 2019’ secured redeemable non-convertible debentures will be 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. The proceeds of the present issue would be utilised for financing/refinancing the housing finance business requirements of the Corporation,” it said.The issue will open on December 20 and closes...

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AIBEA opposes CII's proposal on stake dilution in PSU banks

The All India Bank Employees’ Association (AIBEA) has opposed the recommendation of the Confederation of Indian Industry (CII) to the Government to reduce its stake in public sector banks to 33 per cent over the next two-three years.CH Venkatachalam, AIBEA General Secretary, who was in Mangaluru on Monday, told BusinessLine that that some of the members of CII and other industry bodies are responsible for the bad loans in the banking sector.Terming this recommendation as preposterous, he said: “They (private corporates) take loan. They don’t...

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