Friday, September 30, 2022

HUDCO to raise up to Rs 22,000 crore via bonds to finance infrastructure projects

HUDCO Board approved the proposal to raise up to Rs 22,000 crore through bonds and debentures to finance affordable housing and urban infrastructure projects

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New Delhi: Miniratna PSU, Housing and Urban Development Corporation Ltd (HUDCO) on Thursday said its Board of Directors have approved the proposal to raise up to Rs 22,000 crore through bonds and debentures to finance affordable housing and urban infrastructure projects. The board of HUDCO in its meeting held on July 28, gave approval to this effect, the company said in a regulatory filing.

“The Board of Directors in their meeting held on Wednesday, 27th July 2022 has approved the Annual Resource Plan of the Company for FY 2022-23, by raising of funds through issue of bonds/ debentures, as may be permitted by regulatory authorities from time to time during the financial year 2022-23, up to a maximum of Rs. 22,000 crore,” the PSU said in a regulatory filing to the stock exchange on Thursday.

HUDCO is the premier techno-financing public sector enterprise, in the field of housing and infrastructure development in our country. With an authorized capital of Rs 2,500 crore, as of date, HUDCO has a paid-up equity of Rs 2,001.90 crore.

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