HDFC Life Insurance Company Limited is issuing NCDs worth up to ₹1,000 crore to raise funds for general corporate purposes. These NCDs will be listed on the NSE and have a 10-year tenure with an option for early redemption after 5 years.
HDFC Life Insurance Company Limited is planning to raise funds by issuing non-convertible debentures (NCDs) worth up to ₹1,000 crore. This is part of a larger fundraising strategy with an overall limit of ₹2,000 crore as previously approved by the company’s Board of Directors. The funds will be raised through a private placement of NCDs in dematerialised form.
The company will issue up to 90,000 NCDs, each with a face value of ₹1 lakh, totalling ₹900 crore. There is also an option to retain additional subscriptions worth ₹100 crore, bringing the total issuance to ₹1,000 crore. These NCDs will have a tenure of 10 years with the company having the option to redeem them after 5 years.
The funds raised through this issuance, up to ₹1,000 crore, will be used for general corporate purposes. The NCDs are redeemable at maturity and there are no expected delays or defaults in the payment of interest or principal. This fundraising effort is aimed at strengthening the company’s financial position and supporting its growth initiatives.
HDFC Life Insurance Company Limited is a leading life insurance provider in India, offering a wide range of insurance products and services. It is a joint venture between HDFC Ltd., a prominent housing finance company and Standard Life Aberdeen, a global investment firm. Known for its strong financial performance and customer-centric approach, HDFC Life provides solutions for life insurance, health insurance, retirement planning and wealth management, helping individuals secure their financial future.
As of February 06, 2025, at 10:35 AM, the shares of HDFC Life are trading at ₹633.85 per share, up 0.96% from yesterday’s closing price. Over the last month, the stock has surged by 4.60%. The stock’s 52-week high is ₹761.20 and its low is ₹511.40.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
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Published on: Feb 6, 2025, 3:39 PM IST
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