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HDFC rises on planning to raise funds up to Rs 3000 crore via bonds

Mumbai : Housing Development Finance Corporation is currently trading at Rs. 2236.00, up by 8.60 points or 0.39% from its previous closing of Rs. 2227.40 on the BSE. The scrip opened at Rs. 2237.50 and has touched a high and low of Rs. 2243.75 and Rs. 2232.60 respectively. So far 3692 shares were traded on the counter. The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 2300.85 on 05-Jul-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. 2300.85 and Rs. 2198.20 respectively. The current market cap of the company is Rs. 384294.71 crore. The Institutions holding in the company stood at 89.11%, while Non-Institutions held 10.89%. Housing Development Finance Corporation (HDFC) is planning to raise up to Rs 3,000 crore by issuing bonds on a private placement basis to shore up its long-term capital needs. The ‘HDFC Series V-006 11th July, 2014’ secured redeemable non-convertible debentures will have an issue size of Rs 2,000 crore with an option to retain oversubscription up to Rs 3,000 crore.

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 or refinancing the housing finance business requirements of corporation. 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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