Plan to utilise part of proceeds to set up stressed asset fund in realty sector: HDFC


India’s biggest mortgage lender HDFC has informed the exchanges that it plans to raise around Rs 11,000 crore. They will do it via issuing preference shares to the shareholders. That’s not all; the HDFC board also approved raising around Rs 1,896 crore through qualified institutional buyers.

In an interview to CNBC-TV18, Keki Mistry, VC CEO of HDFC spoke at length about fund raising.

Mistry said that we are eyeing inorganic opportunities in mortgage lending space.

He further said that we plan to utilise a part of proceeds to set up a stressed asset fund in realty sector.

We are evaluating many opportunities of inorganic growth in health insurance business, he added.

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