Money & Banking

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

Our Bureau. Mumbai | Updated 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.

Published on January 05, 2021

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor

You May Also Like