HDFC Ltd to raise Rs 1,500 cr via bonds issuance to augment capital
The secured non-convertible debentures (NCDs) will carry coupon rate of 7.5 percent per annum
New Delhi: Mortgage lender HDFC Ltd will raise Rs 1,500 crore by issuing debt securities on private placement basis.
The secured non-convertible debentures (NCDs) will carry coupon rate of 7.5 percent per annum.
"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," it said in a regulatory filing.
The issue will open on October 13 with a tenor ending on October 12, 2018.
HDFC Ltd stock closed 0.21 per cent to Rs 1,423.80 on BSE.
Extending its rally to the third straight day, the 30-share BSE benchmark rallied 762.10 points or 1.24 per cent to settle at 62,272.68, its record closing peak. During the day, it jumped 901.75 points or 1.46 per cent to its lifetime high of 62,412.33
On the BSE, the shares are listed in the ‘B’ Group of Securities, while on the NSE they are trading in the Normal Market segment – Compulsory Demat (Rolling Settlement)
The share price of Archean Chemical may increase to between Rs 550 and 570 in the near term, and it may rise to Rs 640 in the long run