HDFC allots securities to QIBs

Housing Development Finance Corporation has approved the allotment of the following securities to eligible qualified institutional buyers pursuant to QIP issue in terms of preliminary document dated 05 August 2020 and placement document dated 10 August 2020 -

(i) 5,68,18,181 equity shares of Rs. 2 each at an equity issue price of Rs. 1,760 per Equity Share (including a premium of Rs. 1,758 per equity share), aggregating Rs. 10,000 crore,

(ii) 1,70,57,400 warrants at an issue price of Rs 180 per warrant with a right exercisable by the warrant holder to exchange each warrant for one equity share of Rs 2 of the Corporation, any time before the expiry of a period of 36 months from the date of allotment at exercise price of Rs 2165 per warrant, and

(iii) 36,930 secured redeemable non-convertible debentures of face value of Rs 10 lakh each due on 11 August 2023 at par aggregating Rs 3693 crore carrying a coupon rate of 5.40% p.a.

Pursuant to the allotment of equity shares as mentioned in clause (i) above, the paid-up share capital of the Corporation stands increased to Rs. 358,28,53,976 consisting of 179,14,26,988 Equity Shares of Rs. 2 each.

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