HUDCO to issue ₹2,500 crore in non-convertible debentures

HUDCO announced plans to issue Series-E 2025 Non-Convertible Debentures (NCDs) aggregating up to ₹2,500 crore, with each NCD having a face value of ₹1,00,000. This private placement aims to augment the issuer's long-term resources for lending activities, debt repayment, and operational requirements. The issuance is part of a broader approval from the board of directors on December 4, 2025, to raise up to ₹65,000 crore through bonds/debentures during fiscal year 2025-26.

The NCDs will be unsecured, taxable, redeemable, and non-cumulative, with a tenor of seven years, maturing on December 12, 2032. They are proposed to be listed on the BSE via an online bidding process. The minimum application size for investors is ₹1 crore (100 NCDs), with subsequent multiples of ₹1 lakh (1 NCD).

The first interest payment date is scheduled for December 12, 2026, with subsequent annual payments until maturity. The issue has been rated '[ICRA] AAA' (Stable) by ICRA Ltd., 'CARE-AAA' (Stable) by CARE Ratings, and 'IND-AAA' (Stable) by IRRPL, indicating a high degree of safety regarding timely servicing of financial obligations.