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HDFC shares gain 5% on fund raising

Press Trust of India  |  Mumbai 

Shares of mortgage lender HDFC today rose 5 per cent after the company raised about Rs 10,000 crore through mix of warrants and non-convertible debentures to qualified institutional investors.

The stock gained 4.73 per cent to settle at Rs 1,256 on BSE. Intra-day, it jumped 5 per cent to Rs 1,260.20.

At NSE, shares of the company went up 5 per cent to Rs 1,256.95 at close of trade.

Tracking the rally in the stock, the company's market valuation surged Rs 9,151.43 crore to Rs 1,98,156.43 crore.

HDFC has alloted 3.65 crore warrants at an issue price of Rs 14 apiece, at an exercise price of Rs 1,475 per share, the housing finance company had said in a regulatory filing on Saturday.

With the issuance of the warrants, HDFC has raised Rs 5,384 crore.

The warrant issue price of Rs 14 apiece would neither be adjusted against the exercise price nor would be refundable, the filing said.

Besides, it has raised Rs 5,000 crore through issuance of non-convertible debentures (NCDs).

Meanwhile, in the stock market the Sensex soared by 564.60 points to 26,785.55.

First Published: Mon, October 05 2015. 16:57 IST
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