HDB Financial Services Limited has informed the Exchange about issue of Securities
HDBFS · price
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HDB Financial Services has allotted 50,000 secured, redeemable NCDs on a private placement basis, with each NCD having a face value of Rs. 1,00,000, taking the total issue size to Rs. 500 crore. The debentures carry a coupon of 7.9611% per annum, paid annually and on maturity, with a tenure of 881 days (allotted on August 7, 2025 and maturing on January 5, 2028). The NCDs are proposed to be listed on the Wholesale Debt Market Segment of BSE and are secured by a first and exclusive charge on the company's present and future receivables, with a minimum asset cover of 1.0 times the outstanding principal and interest.
This Rs. 500 crore NCD raise expands the company's borrowing base at a competitive market rate, supporting its lending operations; the dilution risk is minimal since these are debt instruments and not equity, though overall leverage will increase marginally.