HDFC raises Rs 500 cr via NCDs
Quotes

HDFC raises Rs 500 cr via NCDs

Last Updated: Tuesday, January 29, 2013, 17:49
 
 Comment 0
 
HDFC raises Rs 500 cr via NCDs
New Delhi: Mortgage lender HDFC Tuesday raised Rs 500 crore through non-convertible debentures (NCDs) for general corporate requirements.

Non-Convertible Debentures are loan-linked bonds issued by a company that cannot be converted into stock and usually offer higher interest rate than convertible debentures.

According to sources, one-day NCD issue closed for Rs 250 crore with a green shoe option to raise another Rs 250 crore.

The funds were raised to meet general corporate needs, sources said.

Investors are being offered an annualised interest of 9.05 percent per annum through the NCDs that have a maturity of five years.

Private sector lender Axis Bank was the arranger of the issue.

HDFC is the country's largest home loan provider with cumulative disbursements of over Rs 3.74 lakh crore as at March 31, 2012.

Overall, companies last year had mopped-up over Rs 35,000 crore through the NCDs route, a steep hike from Rs 12,753 crore garnered in the preceding year.

PTI



First Published: Tuesday, January 29, 2013, 17:49


Comments


comments powered by Disqus
G20 Summit 2014
G20 Summit 2014
2014`s Top People in Business: Fortune
2014`s Top People in Business: Fortune
World Bank`s Top 10 Places for Business
World Bank`s Top 10 Places for Business
India`s top ten billionaires
India`s top ten billionaires
Top 10 billionaire cities- In Pics
Top 10 billionaire cities- In Pics

Web Wrap
Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved