Categories

Business Ideas
Business Opportunities
Corporate
Home Business
International Business
Management
Online Business
Public Company
Public Relations
Small Business

Popular Articles

Himalayas inspired '2012'
When director Roland Emerich was looking for a image that would sum up the apocalyptic tone of his blockbuster 2012, he could only conjure up one picture, the Himalayas being flooded.

Adventure tourism operators strike against bidding process
Adventure tourism operators in Uttarakhand are up in arms against the state forest department for its move to withdraw lease permits for the Ganga beach.

News of the day

Centre calls meeting on Telangana on January 5
The Centre, in an attempt to end the imbroglio over Telangana, today convened a meeting here on January 5 of the eight recognised political parties in Andhra Pradesh for a discussion on the issue, a move welcomed by a grouping of all parties spearheading the statehood stir.
Home Business

HDFC raises Rs 4.3k cr in warrants, NCDs

The instruments will be listed on BSE, NSE. - HDFC Standard Life selects SAP as technology partner - HDFC advances on Rs 4,000cr QIB issue - HDFC: Cashing in at the right time - HDFC to raise over Rs 4,000 crore through QIBs - JHS Svendgaard Labs to allot 11 lakh warrants - Rights issue: Fortis to issue 2 shares for 5 held Housing Development Finance Corporation (HDFC) on Thursday announced that it had simultaneously issued warrants of Rs 301 crore and non-convertible debentures (NCDs) worth Rs 4,000 crore through the qualified institutional placement (QIP) route. The 10.95 million warrants, priced at Rs 275 each, entitle the holder to convert each of them into a single equity share of the corporation within three years from the date of allotment at an exercise price of Rs 3,000 a share. So, if a holder decides to convert his warrant into equity, the total amount paid per share would work out to Rs 3,275, a premium of 46 per cent to the closing price on August 17 — the date of the launch. In a statement, the company said the maximum dilution that could take place if all the warrants were swapped for equity shares would be up to 3.5 per cent of the expanded equity share capital of HDFC. The company has also issued NCDs worth Rs 4,000 crore. Out of the total Rs 4,000 crore, Rs 2,000 crore was raised through zero coupon NCDs with a maturity of two years an annualised yield of 7.15 per cent. The remaining amount was raised through NCDs with a maturity period of three years, having an annualised yield of 7.85 per cent. “The composite cost of funds to the corporation as a result of the simultaneous issue of warrants and NCDs will be 4.25 per cent per annum,” HDFC said in a statement. The NCDs and warrants will be issued only to domestic qualified institutional buyers (QIBs) and will be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). The lead managers for the warrants were Citigroup Global Markets, Goldman Sachs, JM Financial, Kotak Mahindra Capital and Nomura. The lead managers for the NCDs were Axis Bank, Citigroup Global Markets, HSBC, JM Financial and Kotak Mahindra Capital.


Add your comment:
Name:
Site address: http://
Your message:
Enter today\\\\'s date, 2 digits
(spam protection):

© Copyright 2009