IPDC Finance Ltd is going to raise Tk 300 crore by issuing mortgaged-backed zero coupon bonds.

In a filing on the Dhaka Stock Exchange today, the non-bank financial institution said its board has given the consent to work on the issuance of bonds.

Mortgage-backed securities are tradable investment vehicles made of groups of mortgages that offer interest payments similar to bonds, according to thestreet.com.