REG - Housing Dev Fin Corp - QIP 2020 - Closure of Issue

Housing Development FinanceAnnouncement

11/08/2020 07:01

RNS Number : 7084V
  
Housing Development Fin. Corp. Ltd.
  
10 August 2020
  
 

Ref. No.: SE/2020-21/123
 
August 10, 2020
 
BSE Limited                                                               National Stock Exchange of India Limited
P. J. Towers                                                                 Exchange Plaza, Plot No. C/1, G Block,
Dalal Street                                                                 Bandra-Kurla Complex
Mumbai 400 001                                                         Bandra (East), Mumbai 400 051
 
Kind Attn: Sr. General Manager                               Kind Attn: Head - Listing 
       DCS - Listing Department
 
Dear Sirs,
 
Ref:     Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations).
 
Sub:    Qualified institutions placement ("QIP") of equity shares and secured redeemable non-convertible debentures simultaneously with warrants (together, "Securities"), by Housing Development Finance Corporation Limited ("Corporation") under Chapter VI of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 ("ICDR Regulations") and other applicable regulations ("Issue").
                                                                                                                                       
This is further to our letters dated August 5, 2020 and August 6, 2020 on the captioned subject inter alia informing you that the Issue had opened on August 5, 2020 and that the bidding date for secured redeemable non-convertible debentures would take place on August 10, 2020. 
 
In the above connection, we wish to inform you that, the Committee of Directors - QIP 2020 of the Corporation ("Committee of Directors") has at its meeting held today, i.e., August 10, 2020, inter alia, passed the following resolutions: 
 
(i)      approved and declared the closure of the Issue today (i.e. August 10, 2020); 
 
(ii)     determined and approved the issue of 5,68,18,181 equity shares of Rs. 2 each at an issue price of Rs. 1,760 per equity share (including a share premium of Rs. 1,758 per equity share). The issue of equity shares pursuant to the Issue is for an amount aggregating       Rs. 10,000 crore; 
 
(iii)    determined and approved the issue of 1,70,57,400 Warrants at an issue price of Rs. 180 per Warrant ("Warrant Issue Price") and accordingly the Corporation has received an amount aggregating Rs. 307.03 crore upfront. The said Warrants entitle the Warrant holders to exchange each Warrant for one equity share of Rs. 2 each of the Corporation, any time before the expiry of 36 months from the date of its allotment, at an exercise price of        Rs. 2,165 per Warrant ("Warrant Exercise Price"); and
 
(iv)    determined and approved the issue of 36,930 secured redeemable non-convertible debentures ("NCDs") of face value of Rs. 10,00,000 each due on August 11, 2023, at par, aggregating Rs. 3,693 crore, carrying a coupon rate of 5.40% payable annually. 
 
The equity shares and Warrants will be listed on National Stock Exchange of India Limited and BSE Limited and the NCDs will be listed on the wholesale debt market segment of the said exchanges.
 
We request you to take note of the above and arrange to bring the same to the notice of all concerned. We request you to treat the same as compliance with the applicable provisions of the Listing Regulations.
 
Please note that the meeting of the Committee of Directors commenced at 11.10 p.m. and concluded at 11.30 p.m. Further, please note that another meeting of the Committee of Directors is scheduled to be held shortly for approving the Placement Document and other matters in relation to the Issue.
 
Thank you
 
Yours faithfully
For Housing Development Finance Corporation Limited
 
 
 
Ajay Agarwal
Company Secretary
 
cc:        London Stock Exchange,
            10, Paternoster Square, London, EC4M 7LS
 
 
 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
  END
 
 
MSCGZGMRRGVGGZM