HDFC to issue NCDs of Rs 1340 crore via private placement

Housing Development Finance Corp (HDFC) – major provider of finance to housing today, informed the company will be raising Rs 1340 crore from secured redeemable non-convertible debentures (NCDs).

In a BSE filing HDFC said, In accordance with regulation 50 of Securities and exchange board of India (Sebi) regulations 2015, it will issue of secured redeemable NCDs under series Q-006.”

The NCDs includes coupon rate of 7.67% pa with issue size of Rs 1340 crore via private placement. 

The issuance will be open and close on September 23, and  will be listed on BSE and NSE exchange.

The proceeds from these NCDs will be utilize for financing or refinancing the housing finance business requirements of HDFC, it stated in release.

Shares of HDFC closed at Rs 1392.20 down by Rs 1.35 or 0.10%.