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HDFC surges on plan to raise Rs 500 crore via issue of NCDs

17 Jun 2016 Evaluate

Housing Development Finance Corporation is currently trading at Rs. 1224.50, up by 23.20 points or 1.93% from its previous closing of Rs. 1201.30 on the BSE.

The scrip opened at Rs. 1217.90 and has touched a high and low of Rs. 1236.00 and Rs. 1211.50 respectively. So far 108223 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1370.80 on 16-Jul-2015 and a 52 week low of Rs. 1012.00 on 25-Feb-2016.

Last one week high and low of the scrip stood at Rs. 1251.75 and Rs. 1183.00 respectively. The current market cap of the company is Rs. 194301.38 crore.

The Institutions and Non-Institutions held 87.86% and 12.14% respectively.

Housing Development Finance Corporation (HDFC) is planning to raise Rs 500 crore by issuing secured redeemable non-convertible debentures (NCDs) through private placement. The NCDs will carry a coupon rate of 8.49 per cent per annum and will have a tenure of 3 years and 274 days.

The NCD issue will open and close on June 20. Minimum subscription has been pegged at one debenture of Rs 1 crore each and in multiples of one debenture thereafter.

The objective of the issue is to augment its long-term resources. Proceeds of the issue would be utilised for financing/refinancing the housing business requirements. The NCDs will be listed on the BSE and NSE.

HDFC-Amalgamated Share Price

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