New Delhi: HDFC Ltd on Monday said it will raise up to ₹3,000 crore by issuing bonds on a private placement basis to augment its long term capital resources.
The secured redeemable non-convertible debentures (NCDs) with an issue size of ₹2,000 crore has an option to retain oversubscription up to ₹3,000 crore, it said in a regulatory filing.
"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.
The coupon rate of the bonds is fixed at 8.55% with redemption date of 27 March 2029.
Stock of HDFC closed at ₹1,945.75 on the BSE, down 1.95% from previous close.