India's Housing Development Finance plans debentures, warrants issue

By Devika Patel

Knoxville, Tenn., June 9 - Housing Development Finance Corp. informed the Bombay Stock Exchange that it approved plans to issue up to Rs. 40 billion of secured redeemable non-convertible debentures.

The debentures will be accompanied by warrants.

The company will seek approval for this issue at an extraordinary general meeting on July 22.

Based in Mumbai, India, Housing Development Finance provides housing finance to individuals and lease finance facilities to the corporate sector for plant and machinery, energy generation and other assets. It has a presence in Dubai, Abu Dhabi, Kuwait and some African nations.

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