HDB Financial Services to raise Rs 15,000 cr via non-convertible debentures

HDB Financial Services, HDFC Bank-owned non-banking financial company (NBFC), will raise Rs 15,000 crore via non-convertible debentures (NCDs) and Rs 500 crore through subordinated bonds to support expansion in the loan book.

HDB Finance, an NBFC in the retail financing space, has seen its overall loan portfolio grow by 22 per cent to Rs 56,287 crore as on June 30 from Rs 45,889 crore a year ago.

Its loan book has diversified, with an increased presence in commercial vehicle/construction equipment (CV/CE) financing and business loans. As a result, the share of loans against property (LAP) declined to 35 per cent as of