 "HDFC's Rs 5,000 cr NCD-warrants issue to open for book building")
Mortgage lender Housing Development Finance Corp (HDFC)’s offering simultaneous issue of non-convertible debenture (NCDs) and warrants will open for book building on Thursday. The housing finance company is raising money up to Rs 5,000 crore.
The bidder can apply for at least 7,300 warrants for each NCD. The floor price for book building issue is Rs 1,189 per warrant, according to a communication by HDFC to the BSE.
The warrant holder will be entitled to exchange these with equity shares of HDFC at a premium and in line with present norms.
The committee of directors at meeting on Wednesday passed a resolution about the allotment of securities to eligible qualified institutional buyers. Bonds will mature in March 2017. The bidder can apply for at least 7,300 warrants for each NCD.
