HDFC Preferential Issue

The board of Housing Development Finance Corporation has decided to issue 18-million equity shares of Rs 10 each on preferential basis at a price of Rs 1730 per share. The board also decided to increase the authorised share capital from Rs 275 crore to Rs 325 crore.

The board has also decided to grant 50,60,000 stock options in Employees Stock Option Scheme and Employee Stock Purchase Scheme.

These were decided in the board meeting held on 25 May 2007 and are subject to shareholders’ approval.