Housing & Urban Development Corp. will raise Rs 2,000 crore through bonds on a private placement basis at a coupon rate of 7.19%, according to an exchange filing.
In a meeting on Thursday, Hudco's bond allotment committee approved the issuance of unsecured, taxable, redeemable, non-convertible, non-cumulative debentures with a face value of Rs 1 lakh each, it said.
The base issue size is Rs 500 crore, with an additional green-shoe option of Rs 1,500 crore. The bonds, which are proposed to be listed on the BSE, are redeemable at face value after 10 years, with interest payable annually, the filing added.
Hudco provides financing and credit facilities to the housing and infrastructure sectors, emphasising on urban development. Its net profit rose 42% to Rs 735 crore in the third quarter of the current financial year, while revenue surged 37% year-on-year to Rs 2,760 crore.
Shares of Hudco closed 1.76% lower at Rs 200.18 apiece on the National Stock Exchange, compared to a 0.45% rise in the benchmark Nifty. The stock has risen 7.08% in the last 12 months but declined 14.71% on a year-to-date basis.
Two analysts tracking the company have a 'buy' rating on the stock, according to Bloomberg data. The average of 12-month analysts' price targets implies a potential upside of 80.3%.
RECOMMENDED FOR YOU
Godrej Properties To Develop Haryana Township With Revenue Potential Of Rs 1,250 Crore
Jun 30, 2025
IPO-Bound Urban Company Swings Into Profit On Rs 211-Crore Deferred Tax Credit
Jun 18, 2025
.jpg?rect=0%2C0%2C3500%2C1969&w=75)
Hero FinCorp IPO: Undertakes Pre-IPO Placement Valuing The Company At Rs 23,174 crore
Jun 15, 2025
Indian Oil Corp, Power Finance Corp Pull Bond Sales As RBI Moves Spark Swings
Jun 11, 2025
POPULAR