State-owned HUDCO on Thursday said its board has approved the proposal to raise up to Rs 22,000 crore through bonds and debentures to finance affordable housing and urban infrastructure projects.
The board of Housing & Urban Development Corporation Ltd (HUDCO) in its meeting held on Wednesday gave approval to this effect, the company said in a regulatory filing. The board of directors has approved the Annual Resource Plan of the company by raising funds through the issue of bonds/debentures, as may be permitted by regulatory authorities from time to time during the financial year 2022-23, up to a maximum of Rs 22,000 crore.
HUDCO is a techno-financial institution engaged in the financing and promotion of housing and urban infrastructure projects across the country. It is under the administrative control of the Ministry of Housing and Urban Affairs.