New Delhi, Feb 13: HUDCO (Housing and Urban Development Corporation Ltd.), a Navratna CPSE under the Ministry of Housing and Urban Affairs, has raised ₹1,442 crore through the issuance of Perpetual Tier I Bonds with a coupon rate of 7.87% per annum.
The bonds were issued on an electronic bidding platform and were oversubscribed by five times, indicating strong demand from Qualified Institutional Buyers (QIBs) and reflecting investor confidence in HUDCO’s financial stability and growth potential.
The capital raised will bolster HUDCO‘s capital base and improve its leverage and capital adequacy, enabling sustainable balance-sheet growth. This enhancement of Tier I capital is expected to strengthen HUDCO’s long-term financial resilience and support increased lending in housing and urban infrastructure, aligning with the Government of India’s objectives for sustainable urban development.
CMD Sanjay Kulshrestha noted the substantial investor response and oversubscription as a testament to market confidence in HUDCO’s financial health and strategic initiatives.
