HDB Financial Services Limited has informed the Exchange regarding allotment of 30000 securities pursuant to Non Convertible Securities at its meeting held on May 18, 2026
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HDB Financial Services Limited has allotted 30,000 NCDs with face value of Rs 1 lakh each, raising Rs 300 crore through private placement. The debentures have a tenure of 1,096 days (approx 3 years) maturing on May 18, 2029. The coupon rate is T-Bill linked floating rate at 7.3517% with quarterly reset. The NCDs carry first and exclusive charge by way of hypothecation over present and future receivables with minimum 1x asset cover. The debentures are proposed to be listed on the Wholesale Debt Market segment of BSE Limited. Interest and principal payments are scheduled for May 2027, May 2028, and on maturity in May 2029.
This is a routine debt issuance that diversifies HDB Financial's funding sources and strengthens its lending capacity. The T-Bill linked pricing at 7.35% indicates market-linked borrowing costs. As NCDs are debt instruments, this does not directly impact shareholder equity but affects the company's leverage and interest burden.