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Housing Development Finance Corporation Ltd (HDFC) plans to raise up to ₹5,000 crore via private placement of secured redeemable non-convertible debentures (NCDs) of 10-year tenor at a coupon rate of 6.83 per cent.
The issue size is of ₹2,000 crore, with an option to retain oversubscription of ₹3,000 crore, said HDFC 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,” the filing said.
The bid opening and closing date of the NCD issue is January 7, 2021. The pay-in date and deemed date of allotment is January 8, 2021. The NCDs carry an issue price of ₹10 lakh each and will be listed on the BSE and NSE.
An investor will have to subscribe to a minimum of 10 debentures and in multiple of one debenture thereafter.
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