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HDFC raises over Rs 10,000 cr through issuance of securities

HDFC has alloted 3.65 crore warrants at an issue price of Rs 14 apiece, at an exercise price of Rs 1,475 per share, the housing finance company said in a regulatory filing.

New Delhi: Mortgage lender HDFC on Saturday said it has raised about Rs 10,000 crore through mix of warrants and non-convertible debentures to qualified institutional investors.

HDFC has alloted 3.65 crore warrants at an issue price of Rs 14 apiece, at an exercise price of Rs 1,475 per share, the housing finance company said in a regulatory filing.

With the issuance of the warrants, HDFC has raised Rs 5,384 crore.

The warrant issue price of Rs 14 apiece would neither be adjusted against the exercise price nor would be refundable, the filing said.

Besides, it has raised Rs 5,000 crore through issuance of non-convertible debentures (NCDs).

On NCDs, the filing said 5,000 debentures of face value of Rs 1 crore each due in March 2017, for cash at par aggregating to Rs 5,000 crore carry an annual coupon rate of 1.43 percent.

 

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