HDFC

On October 17th, 1977, it was incorporated as a Public Limited Company. It was also promoted by the Industrial Credit and Investment Corporation of India. It also got certified of commencement of business on 3rd December and provided housing finance in India. It also provided the long term housing loans mainly to low and middle-income individuals as well as corporate bodies. It also provided a modest amount of construction finance to housing developers.

Some of the Milestones:

• 1979: It introduced the HDFC Certificate of Deposit Scheme.
• 1983: It issued bonds of the face value of INR 5000 each for a total amount of INR 10 crores.
• 1984: It issued the second bonds of INR 5,000 each for INR 10 crores was floated by the way of public issue of bonds in 1986.
• 1985: Also, a new agreement was entered into with USAID, in which a sum of about the U.S. $25 million was being borrowed from the U.S. capital market in the year 1986-87.
• 1987: It issued its New Corporate Bonds - Series I for INR 20 crores. Also, VI, VII, and VIII series bonds of an amount of INR 20 crores were issued.
• 1989: The two new types of loans, such as Home Improvement Loans (or HIL) and Home Extension Loans (or HEL) were launched.
• 1993: It launched a new deposit product Easy Way Savings, which is a unique product rendering households with flexible maturity choice as well as saving the profile.
• 1994: It promoted the educational loan facility to offer financial support to students pursuing higher education.
• 1995:
• It undertook to set up its first overseas branch office in Dubai.
• A MoU was signed with Bank Papera Sejhtera, Indonesia on the parameters of technical assistance to be provided for 6 months.
• It issued 50, 00,000 - 12.5% Cumulative Redeemable Convertible Preference Shares of INR 100 each.
• 1996:
• It introduced Flexi-Rate Individual Housing Loan.
• The HDFC Developers, Ltd., and HDFC Investments Ltd. are the wholly-owned subsidiaries of the company.
• 1997:
• About 50, 00,000 Cumulative Redeemable Non-convertible pref. shares redeemed.
• It tied-up with the Rajasthan government to set up a new company.
• With a 56% share, it became a market leader in housing finance.
• 1998: It is one of India's leading housing finance companies, and floated its maiden debenture issue via the private placement route as of 14th July.
• 1999: It entered into a memorandum of understanding for the strategic business collaboration with Chase Manhattan bank.
• 2000:
• It informed that SLAC acquired an aggregate of 10 lac equity shares from the secondary market.
• It opened an office in Kozhikode, Kerala.
• It acquired the housing finance business of Gujarat Ambuja Cement Ltd for a total consideration of INR 60 crores.
• It acquired 2 crore shares in Lafarge India representing the face value of INR 20 crore.
• Both ICICI Ltd and HDFC hiked their housing loan rates by 50 basis points.
• The amalgamation of Hometrust Housing Finance Company Ltd took place.
• CRISIL assigned an `AAA' rating to the INR 1,500-crore bond program of the company.
• Also, ICRA assigned the `LAA' rating to Hudco INR 1 billion tax-free and INR 5 billion taxable bonds program.
• 2001:
• It acquired the entire equity holding of its subsidiary HDFC Holdings in HDFC Bank.
• It launched its $100-million 5-year syndicated loan with roadshows beginning in Singapore.
• 2002: It approved a proposal to set up JV with Chubb Global for a foray into the General Insurance business.
• 2003:
• It divested its entire stake in Spectramind to Wipro.
• Its share price hits a lifetime high of INR 455.
• It unveiled its 4th branch in Bangalore at Basaveshwaranagar.
• It allied with Tally to unveil EDI for Small & Medium Enterprises (SMEs).
• It tied up with ICICI Bank and SBI for sharing ATM networks.
• It unveiled an innovative housing product.
• 2004:
• It became the first private corporate to raise INR 1,000 crore debt in a single tranche and a single option.
• It inaugurated its 16th office in Tamil Nadu and the 6th office in Chennai.
• Its Capital Research acquired 1.38 pc additional stake in HDFC.
• 2005:
• Both HDFC and Elcot signed a pact to promote infotech in TN.
• Also, Forbes Group tied-up with HDFC to set up media firms.
• Also, Hudco ties-up with Pragati Social Infrastructure & Development Ltd to float new JV.
• Its JV unveiled Yellow Pages in Ahmedabad.
• Both HDFC and WL Ross teamed up to invest in Indian corporate turnarounds.
• 2006:
• It joined hands with Apollo Hospitals to set up two-three super-specialty hospitals in Mumbai.
• It joined hands with Postal dept on October 10, 2006.
• It launched its operations in London, UK.
• Its realty fund acquired 10pc in Pune realtor Vascon Engineers.
• It joined hands with Apollo to set up hospitals in Mumbai.
• 2007:
• It allied with Germany's Ergo International AG as the new joint venture partner for its general insurance business.
• It increased its stake in HDFC Asset Management Company.
• It emerged as the best 'Investment Management Company’ in India during the Liquid Real Estate Awards, 2007.
• 2008:
• It spread its network to capture the Indian rural market.
• It tied-up with Postal Department to extend rural reach.
• Its First overseas Branch in Bahrain was inaugurated.
• It launched India's first Rural Banking BPO at Tirupati.
• 2009:
• It introduced a "special disbursement offer" for its New Home Loans.
• It increased its stake in HDFC Bank.
• It offers an 8.25% fixed rate for new loans.
• It planned to mop up $820 mn via bonds.
• It hikes stake in the HDFC Bank.
• 2010:
• Its 4000th ATM was launched at Vijay Mahal in Mangalore.
• Its New Kanjur Marg Office was inaugurated.
• It split its Face value of Shares from INR 10 to INR 2.
• 2011:
• It signed an MOU with the Indian Army for total Salary Solutions.
• Its 5000th ATM was launched at Swami Narayan Chowk, Rajkot.
• Its Intensive Rural Campaign was launched with 1st Mega Loan Mahotsav in Pimpalgaon in Maharashtra.
• It’s First Bank to retail silver bars in India.
• 2012:
• It launched the ‘Solitaire’ range of women’s Credit Cards.
• It launched Leh Branch.
• It launched Tax payment facility through ATM.
• The bouquet of premium Travel Credit Cards was launched.
• It launched the INFINIA Credit Card.
• 2013: It acquired the Schemes of Morgan Stanley Mutual Fund -HDFC - Board recommends Dividend.
• 2014:
• It launched the fixed-rate home loan; and lowered the deposit rate.
• Also, HDFC re-launched ‘TRUFIXED.'
• 2015:
• Also, HDFC Life received approval for the foreign partner stake.
• The FDI boost for HDFC as FIPB clears Standard Life's proposal.
• It launched Women Power.
• It launched its first school 'The HDFC School' in Gurgaon.
• 2016: It priced the first Rupee Denominated Bond.
• 2017:
• It launched a new project "The Nest" at Mulund, Mumbai, under the affordable housing brand "Budget Homes," with 263 units open for sale in phase 1 of the project.
• It was awarded the Dun & Bradstreet Corporate Awards in 2017 in the FIs/NBFCs/Financial Services sector.