Money & Banking

HDFC to raise up to ₹5,000 cr via NCDs

Our Bureau. Mumbai | Updated on January 05, 2021 Published on January 05, 2021

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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Published on January 05, 2021
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