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HDFC raises Rs 10,000 crore equity capital in QIP; issues warrants and bonds
Housing fund major HDFC Ltd with Tuesday said it has brought up Rs 10,000 crore equity capital by giving shares to qualified option traders, including Government of Singapore and Invesco Oppenheimer Acquiring Markets Fund. Besides, this provider has raised Rs three or more,693 crore through an challenge of non-convertible debentures. This also allotted 1,70,57,400 warrants at an challenge price of Rs 180 for each warrant, aggregating to around Rs 307 crore under the QIP issue, according to a regulating filing.
“We wish to show you that the committee of owners -QIP 2020 of the Firm at its meeting held right now approved the allotment involving..securities to eligible competent institutional buyers pursuant into the issue,” HDFC explained in a regulatory submitting.
HDFC said it has granted 5,68,18,181 equity shares at an challenge price of Rs 1,760, aggregating to Rs 10,000 crore.
Among those that were allotted more than 5 various per cent of the securities presented in the QIP challenge are Government of Singapore at 13.37 percent (7,596,457 shares) and Invesco Oppenheimer Acquiring Markets Fund 5.54 per cent (3,148,882 shares).
Also, HDFC Limited issued 36,930 guaranteed redeemable non-convertible debentures involving face value of Rs 10 lakh each due with August 11, 2023, in par aggregating Rs three or more,693 crore carrying a new coupon rate of 5 various.40 per cent payable yearly, it added.
Axis Standard bank, ICICI Bank, Kotak Mahindra Bank, Morgan Stanley Asian countries (Singapore) PTE and JM Financial Products Ltd were among the many allottees of the NCDs.
The mortgage lender also issued you,70,57,400 warrants at an issue price of Rs 180 per warrant.
The warrant holders can exercising their right to exchange each one warrant for one equity reveal at a price of Rs 3,165 per warrant any time before the expiry of a amount of 36 months or until finally August 10, 2023, the item added.
Those who bought to the warrants included SBI Blue Chip Fund, ICICI Prudential Banking and Finance, Reliance Ventures Ltd, Tampilan Balanced Advantage Fund.
“Pursuant to the allotment of equity shares, the paid-up reveal capital of the Corporation holders increased to Rs 358,28,53,976 comprising 179,14,26,988 equity shares of Rs 2 each,” HDFC said.
HDFC shares traded in up by 1.61 per cent at Rs 1827.60 apiece on BSE in preclose session.