HDFC rises on planning to raise up to Rs 11,000 crore

Housing Development Finance Corporation (HDFC) is currently trading at Rs. 2301.10, up by 4.55 points or 0.20 % from its previous closing of Rs. 2296.55 on the BSE.

hdfc hdfc bank set to merge
hdfc hdfc bank set to merge

The scrip opened at Rs. 2290.00 and has touched a high and low of Rs. 2317.15 and Rs. 2275.25 respectively. So far 45157 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 3021.10 on 15-Nov-2021 and a 52 week low of Rs. 2026.55 on 17-Jun-2022.

Last one week high and low of the scrip stood at Rs. 2317.15 and Rs. 2188.00 respectively. The current market cap of the company is Rs. 415976.27 crore.

The Institutions and Non-Institutions holding in the company stood at 88.91% and 11.09% respectively.

HDFC is planning to raise up to Rs 11,000 crore by issuing secured redeemable non-convertible debentures (NCDs). The base issue size is Rs 4,000 crore with an option to retain oversubscription of up to Rs 7,000 crore.

The proceeds of the present issue would be utilized for financing/refinancing the housing finance business requirements of the 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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