The housing finance major on Wednesday said it will raise up to Rs 5,000 crore by issuing bonds on a private placement basis.
The issue size for the secured redeemable non-convertible debentures (NCDs) will be Rs 2,500 crore with an option to retain oversubscription of up to Rs 2,500 crore, HDFC said.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, the mortgage lender added.
The bonds will offer coupon at 6.43% per annum to be payable annually on 29 September every year up to redemption date of 29 September 2025. The bids for the NCDs will open for subscription on 25 September and close on the same day.
Shares of HDFC were down 1.09% at Rs 1649 on BSE. The scrip traded in the range of Rs 1639.20 to Rs 1655 so far during the day.
HDFC's consolidated net profit fell 14.7% to Rs 4,058.53 crore in Q1 June 2020 from Rs 3,539.72 crore in Q1 June 2019. Total income rose 28.7% on a year-on-year basis (Y-o-Y) to Rs 31,560.15 crore during the period under review.
HDFC is engaged in financing by way of loans for the purchase or construction of residential houses, commercial real estate and certain other purposes, in India.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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