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Puneet Dhawan of Accor is brimming with ideas on ways to revive the hospitality sector
Mortgage lender Housing Development Finance Corporation (HDFC), on Tuesday, said it has successfully completed capital raise of ₹14,000 crore.
“The issue has been oversubscribed overall. The equity shares and warrants offered in the qualified institutional placement have been subscribed to by 326 diverse marquee institutional funds,” it said.
According to a regulatory filing, Government of Singapore got 13.37 per cent of the equity shares in the QIP, while Invesco Oppenheimer Developing Market Fund was allotted 5.54 per cent of the shares.
Reliance, Ventures Ltd, SBI Bluechip Fund and Kotak Balanced Advantage Fund are some of the investors to whom warrants were allotted, while Axis Bank, ICICI Bank, Kotak Mahindra Bank and Morgan Stanley Asia are among the investors who were allotted NCDs.
HDFC raised ₹10,000 crore through the issue and allotment of 5.68 crore shares at an issue price of ₹1,760 per share.
It has also received ₹307.03 crore upfront through the issue, and allotment of 1.70 crore warrants at an issue price of ₹180 per warrant.
Further, HDFC raised ₹3,693 crore through the issue of redeemable non-convertible debentures at par, for a tenor of three years, carrying an annualised coupon rate of 5.40 per cent per annum.
“The proceeds of the issue will be used towards general corporate purposes and financing organic and inorganic business opportunities that may arise, including funding expansion plans of subsidiary and associate companies of the corporation,” it said.
Assuming all the warrants are exercised by investors within the next three years, the corporation would receive an additional ₹3,386 crore by way of securities premium, it further said, adding that the maximum equity dilution possible under the issue would be up to 4.26 per cent of its enhanced equity share capital.
Puneet Dhawan of Accor is brimming with ideas on ways to revive the hospitality sector
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