HDB Financials to raise 15000 Cr via NCDs- 28.08.2019

HDB Financial Services, HDFC Bank-owned non-banking financial company (NBFC), will raise Rs 15,000 crore via non-convertible debentures (NCDs) and Rs 500 crore through subordinated bonds to support expansion in the loan book. HDB Finance, an NBFC in the retail financing space, has seen its overall loan portfolio grow by 22 percent to Rs 56,287 crore as on June 30 from Rs 45,889 crore a year ago.

 

    The HDFC bank recently raised 4500 Cr from the market. Now its unlisted arm HDFC Financials is raising 15000 Cr via NCDs. The whole NBFC sector is facing liquidity crunch but HDFC Group is raising funds with ease. This shows there is no dearth of money supply in the market. The quality companies with good management is what streets are looking for.

    One week back, Tata Financial Services also raised 4126 Cr via NCDs.