India-listed financial institution Housing Development Finance Corporation (HDFC) has agreed to issue 64 million shares at a price of INR1,726.05 (approximately US$27.18) per share for a total of INR111 billion (approximately US$1.75 billion) to a group of investors. Global asset manager KKR will acquire 9.3 million shares, sovereign wealth fund GIC will acquire 30 million shares, Canada-based pension fund Ontario Municipal Employees Retirement System (OMERS) will acquire 10 million shares, India-based family office Premji Invest will acquire 5.7 million shares and France-based asset manager Carmignac Group will acquire 9.1 million shares. HDFC plans to use the funds to invest in its subsidiaries, including its banking arm HDFC Bank, as well as to expand offerings in health insurance and real estate.