MUMBAI, July 14: Housing and Urban Development Corporation (HUDCO) Ltd plans to raise Rs 500 crore through private placement of taxable and taxfree bonds. In a fluctuating interest rate market, the coupon payable on these bonds will be decided through a book building exercise.

The private placement offer of priority sector and capital gains exemption taxfree and taxable bonds (series VIII and IX) opens for subscription tommorrow (Tuesday). The issue will remain open till August 8. The face value of the bond is Rs 1 lakh and the minimum subscription will be for 10 bonds.

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