HDFC raises Rs 8,325 crore via bond issue

Mumbai: Mortgage lender HDFC has raised ₹8,235 crore through the issuance of two-year bonds at a coupon rate of 7.80% in a sale on Wednesday, sources said.

The mortgage financier had planned a bond sale with a base size of ₹5,000 crore and an additional subscription option of ₹5,000 crore.

ICICI Bank was the arranger for the issue, according to an exchange filing by HDFC ahead of the sale.


The debt issue is part of the ₹57,000 crore fundraising plan approved by HDFC's board of directors at its meeting held on March 27, 2023.

HDFC Bank on April 4 last year agreed to take over the domestic mortgage lending giant in a deal valued at about $40 billion.

Meanwhile, LIC Housing Finance also raised funds worth ₹1,500 crore through a sale of five-year bonds on Wednesday. The coupon for the bonds was set at 7.68%, sources said.