HDFC approves issue of NCDs aggregating to Rs. 57,000 crore

The Board of Directors of Housing Development Finance Corporation Limited at its meeting held today i.e., on March 27, 2023, have granted its approval for the issuance of unsecured redeemable non-convertible debentures under a Shelf Placement Memorandum, aggregating Rs. 57,000 crore, in various tranches, on a private placement basis, in accordance with the approval granted by the shareholders of the Corporation at the 45th Annual General Meeting held on June 30, 2022.

The board also approved increase in the overall borrowing powers of the Corporation from Rs. 6.00 lac crore to Rs. 6.50 lac crore, outstanding at any point of time and recommended the same for approval of the Members of the Corporation by way of postal ballot. The said decision was taken since the outstanding borrowings of the Corporation as on date is approx. Rs. 5.70 lac crore and the Corporation would need to borrow further for its business purposes till the effective date of merger.

Shares of Housing Development Finance Corporation Limited was last trading in BSE at Rs. 2563.55 as compared to the previous close of Rs. 2567.70. The total number of shares traded during the day was 15748 in over 1338 trades.

The stock hit an intraday high of Rs. 2585.35 and intraday low of 2548.00. The net turnover during the day was Rs. 40476889.00.

Source : Equity Bulls

Keywords

HousingDevelopmentFinanceCorporation INE001A01036 HDFC HousingFinance FundRaising NCDs