HDFC board has approved to raise Rs 11,301 crore by issuing 6.43 crore shares at Rs 1,726.05 per share to investors.
Housing Development Finance Corporation or HDFC's committee of directors in a meeting held on Saturday approved to the "issuance of 6,43,29,882 equity shares if Rs 2 each of the Corporation on a preferential basis", HDFC said in a release to the stock exchanges on Saturday.
The fund raising would be subject to approval of the members of the Corporation, it added.
The investors to whom the shares are proposed to be issued through preferential allotmentÂ include Waverly Pte. Ltd. (3.01 crore shares), OMERS Administration Corporation (1 crore shares) , Silverview Investments Pte. Ltd. (92.69 lakh shares) and Carmignac groupÂ companies (91.40 lakh shares all together) , Azim Premji Trust and PI Opportunities Fund - I (28.96 lakh shares each).
In December, the largest private housing finance player had said it planned to raise capital of up to Rs 13,000 crore through private placement, QIP or on a preferential basis in the next one year.
HDFC will also infuse up to Rs 8,500 crore in its subsidiary HDFC Bank â€” in which it holds 21.01 percent stake at present.