Mortgage lender Housing Development Finance Corporation (HDFC) Ltd closed its ₹14,000-crore fund raising through qualified institutional placement of equity shares and secured redeemable non-convertible debentures simultaneously with warrants.
In its meeting on August 10, HDFC’s committee of directors determined and approved the issue of 5.68 crore equity shares at an issue price of ₹1,760 apiece, which includes a share premium of ₹1,758 apiece.
“The issue of equity shares pursuant to the issue is for an amount aggregating ₹10,000 crore,” HDFC said in a regulatory filing.
The committee also approved the issue of 1.7 crore warrants at an issue price of ₹180 per warrant.
“… accordingly the Corporation has received an amount aggregating ₹307.30 crore upfront,” it further said.
The committee also approved the issue of 36,930 secured redeemable NCDs of face value of ₹10 lakh each due on August 11, 2023, at par, aggregating ₹3,693 crore, carrying coupon rate of 5.4 per cent annually.