DHFL has been planning to raise up to Rs 22,000 crore through issuing non convertible debentures (NCDs) on a private placement basis for funding the business growth in the current fiscal.

DHFL has said in a statement that the board of director has approved issuance of securities “on private placement non convertible secured/unsecured debentures up to an amount Rs 20,000 crore, non convertible subordinate unsecured debentures up to an amount of Rs 1,000 crore, non convertible perpetual unsecured debentures up to an amount of Rs 1,000 crore.”

The company will seek shareholders’ approval for the same in its annual general meeting which is scheduled on July 21.

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