>FAQs ON EXCHANGE OF WARRANTS IN TO EQUITY SHARES OF RS. 2 EACH OF THE CORPORATION

1. What is the face value of the Warrants?
Warrants have no face value.


2. On which stock exchanges are the Warrants listed?
The Warrants are listed on BSE Ltd and National Stock Exchange of India Ltd.


3. What is the lot size for dealing in the Warrants on the stock exchange(s)?
The lot size for dealing in Warrants on stock exchange(s) is of 1850 Warrants.


4. How many Warrants can be exchanged with Equity Shares at one time?
There is no limit on the number of Warrants that can be submitted for exchange.
5. Where should the Warrant Exercise Form be submitted for exchange with equity shares of the Corporation?
The Warrant holder can download the Warrant Exercise Form from the website of the Corporation (http://www.hdfc.com/investors/warrants.asp) and submit the same duly filled and complete in all respects along with at par cheque/demand draft and prescribed documents to the Registered Office or to the Investor Services Department of the Corporation, between 9.30 a.m. upto 5.00 p.m. at the following addresses. Please note that the last date for submission of
the form is Friday, August 24, 2012, in Mumbai.


Housing Development Finance Corporation Limited
7th floor, Ramon House,
H.T. Parekh Marg,
169, Backbay Reclamation,
Churchgate, Mumbai – 400 020.
Ph: 022-66316241/242/290


Or


Investor Services Department
Tel Rasayan Bhavan,
Tilak Road Extension, Dadar T T,
(Opp BEST Workshop Gate No. 4),
Dadar East, Mumbai 400 014.
Ph: 022-61413903/05/07/09




6. What is the amount payable for exchange of each Warrant and what is the exchange ratio?
The Warrant holder is required to pay Rs. 600 per Warrant for exchange into 1 [one] equity share of Rs. 2 each of the Corporation.


7. What are the documents required to be submitted for exchange of Warrants?


In case of individuals
· Warrant Exercise form, duly filled, in original;
· Cheque / Demand draft drawn in favor of ‘Housing Development Finance Corporation Limited’ (account no. 00600350071894) towards Warrant Exercise consideration amount;
· Self - attested copy of PAN card of all Warrant holder(s); and
· Your telephone/ mobile number.


In case of non-individuals (Body Corporate, FIIs, FIs, Custodians, Firm, etc.)
· Warrant Exercise form, duly filled, in original;
· Cheque / Demand draft drawn in favor of ‘Housing Development Finance Corporation Limited’ (account no. 00600350071894) towards Warrant Exercise consideration amount;
· Certified copy of PAN card; and
· Certified true copy of Board Resolution of the firm, stating the list of authorized signatories; or
· Attested copy of Power of Attorney containing the names of signatories authorized to execute the Warrant Exercise Form.
· Your telephone/ mobile number.


8. What is Warrant Exercise Date?
The Warrant Exercise Date refers to the date on which the Warrant Exercise Form, duly completed in all respect, is lodged with the Corporation. If the Warrant Exercise Form is lodged after the business hours of the Corporation or on a holiday, the next working date would be considered as the Warrant Exercise Date.


9. What is Warrant Exercise Period?
The Warrant Exercise Period refers to the period from August 25, 2009 up to 5.00 p.m. on Friday, August 24, 2012 i.e., up to which the Warrant holders can lodge the Warrant Exercise Form along with at-part cheque/ demand draft and prescribed documents, with the Corporation, for exchange of Warrants with corresponding number of equity shares of the Corporation.



10. What are the modes of payment of Warrant Exercise consideration? Whether fund transfer through RTGS is accepted?
The Warrant Exercise consideration can be paid only through at-par cheque or demand draft payable at Mumbai.


11. Whether consideration can be remitted through DCS/RTGS/NEFT?
No. Consideration amount cannot be remitted through DCS/RTGS/NEFT.


12. Does the Warrant holder need to transfer the Warrants to a separate Depository (Escrow) Account prior to submission of Warrant Exercise Form?
No. On receipt and verification of Warrant Exercise Form and realization of the consideration amount, the Corporation will proceed to extinguish the Warrants as stated in the Warrant Exercise Form, through a Debit Corporate Action.


13. What is the last day of the Warrant Exercise Period?
In terms of the Placement Document dated August 21, 2009, the Warrant Exercise Period extends up to 5.00 p.m. on Friday, August 24, 2012, in Mumbai.


14. What happens if the Warrants are not exercise before the expiry of the Warrant Exercise Period?
Warrants not lodged for exchange with the equity shares of the Corporation before the expiry of the Warrant Exercise Period viz. up to 5.00 p.m. on Friday, August 24, 2012, in Mumbai will lapse and shall cease to be valid and amounts paid towards it to date will stand forfeited. No further claim shall lie against the Corporation in this regard after the said date.


15. What is the record date for suspension of trading of the Warrants?
The Corporation has in consultation with the BSE and NSE, fixed Tuesday, August 21, 2012 as the record date for suspending the trading of the Warrants, so as to enable the Warrant holders to exchange the said Warrants with equity shares of the Corporation, during the said Warrant Exercise Period viz. up to 5 p.m. on Friday, August 24, 2012, in Mumbai.



16. What is the last date for trading in Warrants?
Please note that trading in the Warrants will be suspended from Friday, August 17, 2012 and consequently the last date for trading in the Warrants on the floor of the Stock Exchange would be Thursday, August 16, 2012.


17. What are the consequences of non submission of the Warrant
Exercise Forms before the expiry of the Warrant Exercise Period? The Warrants not lodged for exchange by 5.00 p.m. on Friday, August 24, 2012, in Mumbai, will lapse and cease to be valid and amounts paid in that regard, will stand forfeited. Further, thereafter such Warrants will be
extinguished by the Corporation, and no further claim shall lie against the Corporation in this regard, after the said date.


18. Will the Warrant Exercise Period be extended?
No. The Warrant Exercise Period will not be extended under any circumstances.


19. How long will it take for the equity shares to be allotted and credited to your depository participant’s account?
The entire process of exchange of Warrants with equity shares of the Corporation is subject to verification of the Warrant Exercise Form, the prescribed documents and realization of the consideration amount. Thereafter, the Corporation will engage with the Stock Exchanges/
Depositories, for extinguishing the warrants, allotting and crediting corresponding number of equity shares, receipt of listing and trading approvals, which normally takes 15 days from the date of receipt.


20. Will the equity shares allotted pursuant to exchange of Warrants be eligible for dividend, if any, declared for the FY 2012-13?
Yes. The equity shares allotted pursuant to conversion of Warrants will be entitled to dividend for the full year, if declared, for the FY 2012-13.

RISH TRADER