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HDFC gains on getting nod to raise Rs 1,25,000 crore via NCDs

Housing Development Finance Corporation is currently trading at Rs. 1958.85, up by 7.15 points or 0.37% from its previous closing of Rs. 1951.70 on the BSE.

The scrip opened at Rs. 1960.00 and has touched a high and low of Rs. 1969.00 and Rs. 1922.75 respectively. So far 56498 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 2070.60 on 08-Apr-2019 and a 52 week low of Rs. 1646.00 on 23-Oct-2018.

Last one week high and low of the scrip stood at Rs. 1982.80 and Rs. 1901.15 respectively. The current market cap of the company is Rs. 336971.37 crore.

The Institutions and Non-Institutions held 89.11% and 10.89% stake respectively in the company.

Housing Development Finance Corporation (HDFC) has received approval to raise funds through issuance of Redeemable Non-Convertible Debentures (NCDs) (secured or unsecured) and/or any other hybrid instruments (not in nature of equity shares) up to Rs 1,25,000 crore on a private placement basis. The Board of Directors of the Company at its meeting held on May 13, 2019 has approved the same.

HDFC offers a whole gamut of products like loans to individuals, loans to corporates, construction finance, and lease rental discounting. The financial conglomerate has subsidiaries and associates in insurance (general and life), asset management, education finance, venture funds and banking services.

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