Housing & Urban Development Corporation said that its board has approved the raising of funds aggregating to Rs 2,430 crore via issue of non-convertible debentures (NCDs) on private placement basis.
The said NCDs would be unsecured, taxable, redeemable, non-convertible and non-cumulative. They bear a face value of Rs 1 lakh each (Series-A 2025).
The instrument bears a coupon rate of 6.90% per annum and would be paid annually. The said debentures are redeemable at par at the end of 07th year.
Housing & Urban Development Corporation (HUDCO) is primarily engaged in the business of financing housing and urban development activities in the country. As on December 2024, the Government of India held 75% in the company.
The company's consolidated net profit jumped 41.6% to Rs 735.03 crore while total income increased 36.9% to Rs 2770.14 crore in Q3 FY25 over Q3 FY24.
The scrip fell 1.70% to currently trade at Rs 229.05 on the BSE.
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