Housing Development Finance Corporation announced that it is planning to raise INR 20,000 million by issuing secured redeemable non-convertible debentures (NCDs) of two-year tenor on private placement basis at a coupon of 7.49%. The company will use the issue proceeds to finance/re-finance its business. The minimum subscription is one debenture of INR 10 million each and in multiples of one debenture thereafter. The issue will open and close for subscription on January 25, 2017.