Allotment of Secured Redeemable NCDs on private placement basis
HDBFS · price
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HDB Financial Services has allotted 30,000 secured redeemable NCDs of Rs. 1 lakh each, raising Rs. 300 crore through private placement. The debentures carry a T-Bill linked floating coupon of 7.3517% with quarterly reset and a tenure of 1,096 days (maturing May 18, 2029). The NCDs are secured by an exclusive first charge over present and future receivables with a minimum 1x asset cover maintained throughout the tenure. The securities will be listed on the BSE Wholesale Debt Market segment. Coupon payments are scheduled annually on May 18 across three years until maturity.
The NCD issuance at a competitive T-Bill linked rate signals strong investor confidence in HDB Financial's credit quality. The Rs. 300 crore raise provides debt capital at market-linked terms, supporting the company's lending operations without diluting equity.