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Capital boosting committee of HDFC Lifestyle to meet on Jul 23 for proposed Rs 600-crore fundraising system

The capital increasing committee of HDFC Life Insurance Corporation will meet on Thursday to take into account increasing money up to Rs 600 crore through issuance of debentures. In a regulatory filing, HDFC Life Insurance Corporation has mentioned that a conference of the capital raising committee (CRC) of the board of administrators of the firm is scheduled to be held on July 23 to approve the said borrowing strategy.
The CRC conference, it said, will think about and approve the proposed issuance of up to 6,000 unsecured, rated, detailed, subordinated, redeemable, non-convertible fully paid out-up debentures of the aggregate nominal value of up to Rs 600 crore, the filing mentioned.
The non-public sector daily life insurer mentioned it will elevate the money in 1 or much more tranches, on private placement basis, subject matter to regulatory and other approvals.
The corporation had bought an in-theory approval from the board in April this 12 months for this fundraising program.
HDFC Life Insurance Corporation is scheduled to declare its earnings for initial quarter of this fiscal year 2020-21 afterwards in the working day.
Shares of the organization had been buying and selling at Rs 614.30 apiece on BSE, down .46 for every cent from its past close.


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