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Tax-free bonds to raise Rs 10,000 crore for HUDCO

The Housing and Urban Development Corporation is planning to raise Rs 1,000 crore. The company is going to do this by offering tax free bonds to people. The main objective is this is to fund their business expansion programs. There are still other plans in order to get their goal but about half of it would come from the tax-free bonds.

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HUDCO

Also, the company is looking for loans worth Rs 500 crore in National Housing Bank. They are trying to get a competitive interest from their discussion with the said bank. They will be using the amount that they would get for its social housing operation in rural areas. During the last business years, the company was able to mobilize a total of Rs 10,395.95 crore.

With this amount they have raised Rs 5,000 crore of tax- free bonds. There are definitely a lot of things that this company should do in order to get back on their success. This can only be dome if they take the right decisions and the right moves.

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