HDB Financial Services plans to raise Rs 7,500 crore through NCDs

HDB Financial Services, a subsidiary of HDFC Bank, plans to raise up to Rs 7,500 crore through non-convertible bonds (NCDs) to support business growth.
 

The finance company has seen business growing at a good pace over the past few years, with assets under management (AUM) registering a compound annual growth rate (CAGR) of 10 per cent. AUM grew 6 per cent in FY20.
 

However, growth slumped in the current financial year (FY21) due to economic impact of the Covid-19 pandemic. In H1FY21, business growth has been muted, with loan assets growing 0.67 per cent over March 31, 2020.
 

The firm