new delhi hdfc today said the company will raise rs 1500 crore by issuing debentures on a private placement basisthe issue will open on wednesday and close on the same day it saidthe mortgage lender housing development finance corporation hdfc said only the persons specifically intimated through a communication are eligible to apply for the debentures and no other person can applythe object of the issue is to augment longterm resources of the corporation the proceeds of the present issue would be utilised for financing or refinancing the housing finance business requirements of the corporation hdfc said in a regulatory filingthe debt instruments secured redeemable nonconvertible debentures will carry a coupon rate of 845 per cent per annumaxis bank is the arranger of the issuethe hdfc stock closed 244 per cent higher at rs 121625 on bse on tuesday