Mortgage lender HDFC Ltd. on Wednesday said it will raise up to Rs 5,000 crore by issuing non-convertible debentures on a private placement basis.
The issue will open on March 5, 2021 and close the same day, HDFC said in a regulatory filing.
The base size of the issue of secured redeemable NCDs is Rs 2,000 crore with an option to retain oversubscription up to Rs 3,000 crore, it added.
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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," it said.
The coupon rate on the bonds, set to mature on March 8, 2023, is fixed at 5.30% per annum. The arranger of the issue is ICICI Bank.
HDFC stock closed at Rs 879.80, up 8.62% on BSE.
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