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Mortgage lender HDFC raises over Rs 13,000 cr through 10-year bonds

For FY23, its net profit grew by 18 per cent at Rs 16,239 crore as against Rs 13,742 crore in FY22

Photo: Bloomberg
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Photo: Bloomberg

Abhijit Lele Mumbai

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Mortgage lender Housing Development Finance Corporation (HDFC) has raised over Rs 13,000 crore through 10-year bonds at 7.75 per cent ahead of its merger with the largest private lender, HDFC Bank.

Bond-market sources said the base issue size for non-convertible debentures (NCDs) was Rs 10,000 crore with the greenshoe option to raise another Rs 10,000 crore.

The mortgage lender decided to raise only Rs 3,187 crore above the base issue, reflecting market conditions after the Reserve Bank of India’s (RBI’s) decision to retain the policy repo rate at 6.5 per cent.

This is one of the first large-size issues after
Topics : HDFC

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