HDFC plans to raise Rs5,000 crore via masala bonds

New Delhi: Country’s largest mortgage lender HDFC Ltd plans to raise Rs5,000 crore through rupee denominated bonds (masala bonds).

“The board of directors in its meeting on 4 May will consider the proposal for issuance of rupee denominated bonds to overseas investors up to an amount not exceeding Rs5,000 crore under automatic route during 2017-18,” HDFC said in an exchange filing.

The allowed limit of Rs5,000 crore in a fiscal is over and above the amount that companies can raise through automatic route of external commercial borrowings (ECBs).


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