In order to fund its business expansion, Housing Development Finance Corporation (HDFC) has raised about $504 million (around Rs 3,300 crore) through rupee denominated bonds. The bond with maturity of 3 years and 1 month carries 7.35% per annum. The maturity of the instrument is April 30, 2020.
HDFC offers a whole gamut of products like loans to individuals, loans to corporates, construction finance, and lease rental discounting. The financial conglomerate has subsidiaries and associates in insurance (general and life), asset management, education finance, venture funds and banking services.