HUDCO to raise INR 24.3bn via NCDs

HUDCO announced today its plan to raise up to INR 24.3 billion through Non-Convertible Debentures (NCDs) on a private placement basis. The "Bond Allotment Committee" approved the issuance of Series-A 2025 NCDs, each with a face value of INR 100,000. The issue includes a base size of INR 5 billion, with a green shoe option of INR 19.3 billion. The NCDs are unsecured, taxable, redeemable, and non-cumulative and will be listed on the BSE. These bonds offer a coupon rate of 6.90% paid yearly and will mature seven years from the allotment date, redeemable on April 23, 2032. The allotment was confirmed at a meeting convened at 12:00 Noon today.