HDB Financial Services, a subsidiary of HDFC Bank, plans to raise up to Rs 7,500 crore through non-convertible bonds (NCDs) to support business growth. The finance company has seen business growing at a good pace over the past few years, with assets under management (AUM) registering a compound annual growth rate (CAGR) of 10 per cent.
AUM grew 6 per cent in FY20. However, growth slumped in the current financial year (FY21) due to economic impact of the Covid-19 pandemic. In H1FY21, business growth has been muted, with loan assets growing 0.67 per cent over March 31, ...
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