Moneycontrol PRO
UPCOMING EVENT:Moneycontrol Pro & Espresso (A Sharekhan Company) in association with Intrazon 2.0 bring to you India’s Largest Retail Intraday Traders Online Conference. Learn 12 Amazing Strategies from 12 Intraday Traders @ Rs. 600/-. Register Now!
you are here: HomeNewsBusiness

HDFC to raise up to Rs 10,000 crore next week

The country's largest mortgage lender said that it will issue secured redeemable non-convertible debentures (NCDs) on private placement basis with an issue size of Rs 2,000 crore and option to retain over-subscription of up to Rs 8,000 crore.

November 25, 2021 / 09:04 PM IST
Representative Image

Representative Image

Housing Development Finance Corporation (HDFC) Ltd on Thursday said it will raise up to Rs 10,000 crore by issuing bonds on private placement basis to augment its long-term capital.

The country's largest mortgage lender said that it will issue secured redeemable non-convertible debentures (NCDs) on private placement basis with an issue size of Rs 2,000 crore and option to retain over-subscription of up to Rs 8,000 crore.

ALSO READ: HDFC Multi Cap Fund NFO review: Should you invest in the scheme?

"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," HDFC said in a regulatory filing. The bonds, rated AAA by Crisil and ICRA, carry coupon rate of 7.05 per cent per annum.

The 10-year tenure bonds will be open for subscription to the eligible investors on November 29 and closes on the same date. HDFC shares closed 0.33 per cent down at Rs 2,870.95 apiece on BSE.
PTI
first published: Nov 25, 2021 09:04 pm

stay updated

Get Daily News on your Browser
Sections
ISO 27001 - BSI Assurance Mark