HDFC raises Rs. 25,000 crores through NCDs

Housing Development Finance Corporation Limited (HDFC) had submitted a term sheet dated February 14, 2023 for issue of Secured Redeemable Non-convertible Debentures (NCDs) aggregating Rs. 5,000 crore with an option to retain over subscription of Rs. 20,000 crore under Series AB-002.

The Corporation has received 92 bids aggregating Rs. 27,863 crore for the NCDs on Electronic Bidding Platform (EBP) and accordingly the Corporation has accepted 55 bids for the said NCDs issue aggregating Rs. 25,000 crore (including option to retain oversubscription of Rs. 20,000 crore) at a coupon rate of 7.97% per annum, payable yearly.

The said NCDs would be allotted tomorrow i.e. on February 17, 2023.

Shares of Housing Development Finance Corporation Limited was last trading in BSE at Rs. 2701.95 as compared to the previous close of Rs. 2718.40. The total number of shares traded during the day was 7454 in over 819 trades.

The stock hit an intraday high of Rs. 2717.95 and intraday low of 2684.00. The net turnover during the day was Rs. 20109975.00.

Source : Equity Bulls

Keywords

HousingDevelopmentFinanceCorporation INE001A01036 HDFC FundRaising NCDs