REG - Housing Dev Fin Corp - 1st Quarter Results

Housing Development FinanceAnnouncement

30/07/2018 10:35

RNS Number : 1580W
Housing Development Fin. Corp. Ltd.
30 July 2018
 


 
Ref. No. SE/ 2018-19/139
 
July 30, 2018
 
BSE Limited                                                                National Stock Exchange of India Ltd.
P. J. Towers,                                                                 Exchange Plaza, Plot No. C/1, Block G,
Dalal Street,                                                                 Bandra-Kurla Complex, Bandra (East)
Mumbai 400 001.                                                         Mumbai 400 051.
 
Kind Attn: - Sr. General Manager                           Kind Attn: Head - Listing
                           DCS - Listing Department
 
Dear Sirs,
 
Sub: Outcome of Board Meeting.
 
We wish to inform you that at the meeting of the Board of Directors held today i.e. on July 30, 2018, the Board has approved the un-audited financial results [standalone] of the Corporation for the quarter ended June 30, 2018, which have been subjected to limited review by the Statutory Auditors of the Corporation, in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations).
 
A copy of the said result along with the limited review report is enclosed herewith and the same are being uploaded on the website of the Corporation i.e. www.hdfc.com. The said results will be published in the newspapers, in the prescribed format prescribed under Regulation 47 of the Listing Regulations.
 
We further wish to inform you that the Board at the said meeting also granted its approval inter alia for the following:
 
-     issue of Secured Redeemable Non-Convertible Debentures (NCD) aggregating to

 ` 35,000 crore on a private placement basis under a Shelf Disclosure Document, in terms of the SEBI (Issue and Listing of Debt Securities) Regulations, 2008.
 
-     raising of External Commercial Borrowing (ECB) up to USD 1.5 billion equivalent from financial institutions, banks, multilateral financial agencies, mutual funds, body corporate, firms, association of persons or such other entities, subject to approval of the Reserve Bank of India.
 
We further wish to inform you that with a view to further refresh the Board of Directors of the Corporation in a phased manner and prior personal commitments, Mr. B. S. Mehta (DIN:00035019) and Dr. Bimal Jalan (DIN:00449491), Independent Directors of the Corporation resigned from the Board with effect from the conclusion of the aforesaid meeting on July 30, 2018.
 
The Board has noted the said resignations and placed on record its sincere appreciation for the wise counsel and enormous contributions made by Mr. Mehta and Dr. Jalan during their long association as Independent Directors of the Corporation.
 
Please also find attached key financial highlights of HDFC ERGO General Insurance Company Limited, an unlisted subsidiary of the Corporation.
 
Please note that in terms of the HDFC Share Dealing Code and the SEBI (Prohibition of Insider Trading) Regulations, 2015, the window for trading by the employees and directors of the Corporation in the Securities of the Corporation will open from Wednesday, August 1, 2018.
 
Please note that the said Board meeting commenced at 12.00 noon and concluded at 2.10 p.m.
 
You are requested to take note of the above and arrange to bring this to the notice of all concerned.
 
Thank you,
 
Yours faithfully,
For Housing Development Finance Corporation Ltd.
 
 
 
 
Ajay Agarwal
Company Secretary
 
Encl: a/a
 
Copy to: London Stock Exchange
               10, Patemoster Square,
               London, EC4M 7LS.
 
http://www.rns-pdf.londonstockexchange.com/rns/1580W_1-2018-7-30.pdf




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