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HDFC moves up on planning to raise Rs 2,500 crore via bonds

  • Oct-12-2017
  • 14 Hrs IST

Housing Development Finance Corporation is currently trading at Rs. 1752.70, up by 2.45 points or 0.14% from its previous closing of Rs. 1750.25 on the BSE.

The scrip opened at Rs. 1750.45 and has touched a high and low of Rs. 1756.75 and Rs. 1741.55 respectively. So far 19426 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1802.25 on 12-Sep-2017 and a 52 week low of Rs. 1185.00 on 05-Dec-2016.

Last one week high and low of the scrip stood at Rs. 1,765.20 and Rs. 1732.00 respectively. The current market cap of the company is Rs. 279286.22 crore.

The Institutions and Non-Institutions held 89.00% and 10.99% stake in the company, respectively.

Housing Development Finance Corporation (HDFC) is planning to raise Rs 2,500 crore by issuing bonds on private placement basis to augment its housing finance business. The issue will open for subscription on October 17 and closes the same day.

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/refinancing the housing finance business requirements of the Corporation.

The bonds are rated AAA by Crisil and ICRA, reflecting an exceptional degree of creditworthiness.

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.