HDFC Life Insurance raises Rs350 crore via NCDs; Stock gains 1%

23 Jun 2022 , 10:35 AM

HDFC Life Insurance Company Limited has informed to the exchanges that the Capital Raising Committee (“CRC”) of the Board of Directors on June 22, 2022, allotted 3,500 unsecured, rated, listed, subordinated, redeemable, fully paid-up, non-convertible debentures, each having a face value of Rs10,00,000/- (“Debentures”), for an aggregate nominal value of Rs350 crore for cash, at par, in dematerialised form, on private placement basis.

As per the regulatory filing, the Debentures shall be listed on the WDM segment of the National Stock Exchange of India Limited, within 4 trading days from the deemed date of allotment or such period as may be prescribed by SEBI, from time to time, said company.

At around 10:39 AM, HDFC Life Insurance was trading at Rs557.60 per share higher by 1.04% against previous cloding of Rs551.85 per share on the BSE.