HDFC to lift up Rs 500 crore via masala bonds


NEW DELHI: Private bank HDFC has elevated up Rs 500 crore through rupee-denominated bonds from abroad speculators.

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"As per the endorsement of the Board of Directors of the organization at its gatherings held already, the enterprise is examining, subject to economic situations, undertaking the fourth issuance of Rupee Denominated Bonds to abroad investors…Issue size will be dependent upon Rs 500 crore," HDFC said in an administrative recording to stock trades.

The issue will open on October 1 and close on the same date.

The valuing and residency of the bonds to be issued compliant with the said issue will be implied to in the proper method," the organization included.

In July this year, in the principal ever masala bond issue, HDFC had raised Rs 3,000 crore through rupee-named bonds that got over-subscribed by 4.3 times.

The rupee-designated securities or masala securities are instruments through which Indian elements can raise finances by getting to abroad capital markets, while the security financial specialists hold the coin hazard.