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Business News/ Market / Stock-market-news/  HDFC looks to raise Rs2,000 crore via NCDs
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HDFC looks to raise Rs2,000 crore via NCDs

The secured, redeemable NCDs to be issued on 27 July, will carry a coupon rate of 8.15% per annum, HDFC said in a regulatory filing

Photo: Hindustan TimesPremium
Photo: Hindustan Times

New Delhi: HDFC Ltd Friday said it will issue non-convertible debentures (NCDs) on a private placement basis to raise Rs2,000 crore.

The secured, redeemable NCDs to be issued on 27 July, will carry a coupon rate of 8.15% per annum, HDFC said in a regulatory filing.

“The object of the issue is to augment 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.

The Housing Development Finance Corporation (HDFC) said only the persons specifically addressed through a communication are eligible to apply for the debentures and no other person could apply.

Stock of the company was trading 1.35% higher at Rs1,350.00 on BSE in pre-close session.

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Published: 22 Jul 2016, 03:45 PM IST
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