HDFC Life Insurance Company Ltd.

HDFC Life Insurance Company has received approval to raise funds up to Rs 1,500 crore through non-convertible debentures (NCDs).  The NCDs, carrying a coupon rate of 8.05% and a 10-year term, are set for allotment on October 9.

The company’s Capital Raising Committee (CRC) on September 27, 2024 has considered and approved the proposal (along with the commercial terms) for raising of funds under the first tranche through issuance of up to 1,00,000 unsecured, rated, listed, subordinated, redeemable, fully paid-up, non-cumulative, Non-convertible debentures, each having a face value of Rs 1,00,000, for an aggregate nominal value of up to Rs 1,000 crore with an option to retain additional subscription/ green shoe option of up to Rs 500 crore collectively aggregating up to Rs 1,500 crore  for cash, in dematerialised form, on private placement basis (Non-convertible Debentures).  

HDFC Life Insurance Company is one of the leading life insurance companies in India offering a range of individual and group insurance solutions that meet various customer needs such as Protection, Pension, Savings & Investment and Health, along with Children's and Women's Plan.