HDFC raises Rs 4500 crore from masala bonds till date
The company has completed the third issue of rupee denominated bonds to overseas investors aggregating to Rs 1000 on September 12, HDFC said in a statement.
Housing Development Finance Corp (HDFC) today announced its completion of third issue of rupee denominated bonds (masala bonds).
“The company has completed the third issue of rupee denominated bonds to overseas investors aggregating to Rs 1000 on September 12,” HDFC said in a statement.
It further informed that, with this completion, the company has raised a total Rs 4500 crore through the issuance of masala bonds.
HDFC was the first Indian corporate to issue masala bonds in the overseas market.
During it's first issue of masala bonds in July,2016, HDFC has raised Rs 3000 crore, while in the second issue on Septemeber 2, it raised Rs 500 crore.
This would be the highest amount that has been raised via masala bond from overseas in India.
Well HDFC is not the only one who has issued masala bonds. NTPC, Indiabulls Housing Finance and Adani Transmission have also entered the masala bond market since the start of current financial year.
From these masala bonds, NTPC has raised nearly Rs 2000 crore, while Indianbulls Housing Finance raised Rs 1300 crore and Adani Transmission raised Rs 500 crore.
With RBI initiating new measures to boost these masala bonds there many more companies who are looking forward to enter these bond market.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.