HDB Financial Services Allots ₹15,500 Cr NCDs

HDB Financial Services Ltd announced the allotment of 1,55,000 Secured Redeemable Non-Convertible Debentures (NCDs) with a face value of Rs. 1,00,000 each, aggregating to Rs. 15,500 crore. The allotment was made on a private placement basis through the Debenture Allotment Committee. The NCDs will be listed on the Wholesale Debt Market Segment of BSE Limited. The issue comprises re-issuance of 30,000 NCDs (Rs. 300 crore) and 25,000 NCDs (Rs. 250 crore), along with a fresh issuance of 1,00,000 NCDs (Rs. 1,000 crore). Maturities range from 834 to 1120 days, with coupon rates varying from 7.18% to 8.23%. The NCDs are secured by a first and exclusive charge over the company's present and future receivables.