Mortgage lender HDFC has announced its plans to raise Rs. 1,000 crore from debentures to fund business growth model. According to a statement released by the company, the funds would be raised through secured redeemable non-convertible debentures.
“The issue will open for subscription on June 15 and close the same day. The object of the issue is to augment the long-term resources of the company,” it said.
The debentures would carry a coupon rate of 8.46 percent per annum, it added. Housing Development Finance Corporation closed at Rs. 1230.80, down Rs. 7.6 or 0.61 percent, on June 10, 2016 beating its 52-week high of the share of Rs. 1370.80 and the 52-week low of Rs. 1012.00.
The company’s trailing 12-month (TTM) EPS was at Rs. 44.88 per share as per the quarter ended March 2016.