HDFC Life Insurance Company Ltd to raise Rs. 600 crore through NCDs

The Capital Raising Committee (“CRC”) of the Board of Directors of HDFC Life Insurance Company Limited in its meeting held today i.e. July 23, 2020, considered and approved the proposal (along with the commercial terms) for raising of funds through issuance of up to 6,000 (Six Thousand) Unsecured, Rated, Listed, Subordinated, Redeemable, Fully Paid-up NonConvertible Debentures, each having a face value of Rs.10,00,000/- (Rupees Ten Lakh only), for an aggregate nominal value of up to Rs.600,00,00,000/- (Rupees Six Hundred Crore only) for cash, at par, in dematerialised form, on private placement basis.

The said Debentures are proposed to be listed on the WDM segment of the National Stock Exchange of India Ltd.

Shares of HDFC Life Insurance Company Ltd was last trading in BSE at Rs.609.7 as compared to the previous close of Rs. 627. The total number of shares traded during the day was 201605 in over 6449 trades.

The stock hit an intraday high of Rs. 630 and intraday low of 606. The net turnover during the day was Rs. 123409656.

Source : Equity Bulls

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