Money & Banking

HDFC to raise Rs 3,000 cr via NCDs

PTI New Delhi | Updated on March 25, 2019

HDFC Ltd on Monday said it will raise up to ₹ 3,000 crore by issuing bonds on a private placement basis to augment its long term capital resources.

The secured redeemable non-convertible debentures (NCDs) with an issue size of ₹ 2,000 crore has an option to retain oversubscription up to ₹ 3,000 crore, it said in a regulatory filing.

“The object of the issue is to augment the long-term resources of the Corporation. The proceeds of the present issue would be utilised for financing/ refinancing the housing finance business requirements of the Corporation,” it said.

The coupon rate of the bonds is fixed at 8.55 per cent with redemption date of March 27, 2029.

Stock of HDFC closed at ₹ 1,945.75 on the BSE, down 1.95 per cent from previous close.

Published on March 25, 2019

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