Housing Development Finance Corporation (HDFC) on Monday said its board has approved increase in the authorised share capital from Rs 340 crore consisting of 170 crore equity shares of Rs 2 each, to Rs 350 crore consisting of 175 crore equity shares of Rs 2 each.
The board gave its nod to the consequential changes in the Memorandum of Association of the Corporation, subject to the approval of the shareholders through postal ballot.
It also approved issuance of secured redeemable non-convertible debentures (NCDs) aggregating Rs 35,000 crore on a private placement basis under a Shelf Disclosure Document in terms of SEBI regulations. This is pursuant to shareholders’ approval at the Corporation’s 39th annual general meeting held on July 27, 2016.
The HDFC board also gave a green light to the issuance of 4,98,51,524 equity shares of Rs 2 each of the Corporation under the Employees Stock Option Scheme to the employees in terms of the relevant SEBI regulations, subject to shareholders’ approval through postal ballot.