iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

HDFC plans to raise up to Rs 11,000 cr via bonds issue

25 Jul 2022 , 09:02 AM

The base issue size of HDFCs secured redeemable non-convertible debentures (NCDs) is Rs 4,000 crore with an option to retain oversubscription of up to Rs 7,000 crore. The proceeds of the present issue would be utilised for financing/refinancing the housing finance business requirements of the corporation, it added. The interest rate on the secured redeemable non-convertible debentures (NCDs) will be 8%, with yearly coupon payments. Up to the redemption date, the coupon payment dates will always be on 27 July every year. The 10-year term and 27th July 2032 redemption date for the secured redeemable non-convertible debentures (NCDs) are set. HDFC has said in a regulatory filing that the issue opens on 26th July and will be closed on the same day. In case of default in payment of coupon and/ or redemption of the principal amount of the Debentures on the respective due dates, additional interest of at least 2% per annum over and above the coupon rate shall be payable by the company for the defaulting period until the defaulted amount together with the delay penalty is paid, HDFC said in a regulatory filing. HDFC is the pioneer of retail housing finance in India. Its standalone net profit rose 16.37% to Rs 3700.32 crore on 5.13% increase in total income to Rs 12308.46 crore in Q4 March 2022 over Q4 March 2021. Shares of HDFC fell 2.37% to Rs 2296.55 on Friday, 22 July 2022. HDFC and HDFC Bank on 4 April 2022 announced merger, in which shareholders of HDFC will receive 42 shares of HDFC Bank, for 25 shares held in HDFC. As a result, HDFC Bank will be 100% owned by public shareholders and existing shareholders of HDFC will own 41% of HDFC Bank. Powered by Capital Market – Live News

Related Tags

  • capital market
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More
Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.