HDFC allots 3.65 crore warrants, 5000 NCDs

The committee of the board of directors of Housing Development Finance Corporation Ltd ("Committee of Directors") at its meeting held on October 05, 2015 approved the allotment of the securities to Eligible QIBs pursuant to the Issue, in terms of the placement document dated October 01, 2015.

3,65,00,000 Warrants were allotted at an issue price of Rs. 14 per Warrant ("Warrant Issue Price"), with a right exercisable by the Warrant holder to exchange each Warrant for one Equity Share of the Corporation, any time before the expiry of a period of 36 months from the date of its allotment i.e., October 05, 2015, at an exercise price of Rs. 1,475 per Equity Share ("Warrant Exercise Price") as against the SEBI floor price of Rs. 1189.66 per share. The Warrant Issue Price of Rs. 14 per Warrant will neither be adjusted against the Warrant Exercise Price nor will be refundable by the Corporation

5,000, NCDs of face value of Rs. 1,00,00,000 each due in March 2017, for cash at par aggregating to Rs. 5,000 crore carrying a coupon rate of 1.43% per annum, payable annually.

In accordance with Sections 42 and 71 of the Companies Act, 2013 (including the rules made thereunder) and Chapter VIII of the SEBI Regulations.

Shares of HOUSING DEVELOPMENT FINANCE CORP.LTD. was last trading in BSE at Rs.1256 as compared to the previous close of Rs. 1199.25. The total number of shares traded during the day was 98213 in over 4494 trades.

The stock hit an intraday high of Rs. 1260.2 and intraday low of 1206. The net turnover during the day was Rs. 122431458.

Source : Equity Bulls

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