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HDFC to raise Rs 500 cr through NCDs; issue to open on May 19

Press Trust of India / New Delhi 18 May 17 | 10:23 AM

Mortgage lender HDFC Ltd on Wednesday said it proposes to raise Rs 500 crore through non-convertible debentures (NCDs) to fund business growth.


The bonds, in nature of secured redeemable non-convertible debentures, will bear coupon rate of 7.67 per cent per annum.

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"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," HDFC said in a regulatory filing.


The tenor of the bonds is three years.


The issue to be opened on May 19 would be listed on the BSE and NSE.

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