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HDFC Ltd on Tuesday said it will raise up to Rs 7,000 crore by issuing bonds on private placement basis. The base issue size for the secured redeemable non-convertible debentures (NCDs) is Rs 5,000 crore with option to retain oversubscription of up to Rs 2,000 crore, HDFC said in a regulatory filing. The country s largest mortgage lender will offer coupon rate of 6 per cent per annum on the bonds, the issue for which opens on May 28, 2021. The issue will close on the same day. The object of the issue is to augment the long-term resources of the Corporation. The proceeds of the present issue would be utilised for financing/refinancing the housing finance business requirements of the Corporation, it said.
Read more about Indian Bank declares Saravan Stores (Gold Palace) account as fraud on Business Standard. The bank held provision of Rs 115 crore against the account.
SBI will conduct e-auctions of 12 bad accounts this month to recover dues of over Rs 506 crore under sale to asset reconstruction company (ARC) mechanism. In terms of the bank s policy on sale of financial assets, in line with the regulatory guidelines, we place these accounts for sale to ARCs/banks/NBFCs /FIs, on the terms and conditions indicated there against, SBI said in sale notifications. The total outstanding against these companies is Rs 506.22 crore. Aarya Industrial Products Pvt Ltd has dues of Rs 72.24 crore and the e-auction of the account is slated to take place on March 16. State Bank of India said Aarya Industrial Products has filed a suit against it in January 2016 before Civil Court, Alipore, Kolkata for claiming recovery damages of Rs 226 crore.
State-owned Indian Bank on Tuesday said its committee of directors has given approval for raising up to Rs 4,000 crore through share sale.
Indian Bank said that the Committee of Directors has accorded approval for raising of equity capital of the bank aggregating up to Rs 4,000 crore (including premium) through qualified institutions placement (QIP) in one or more tranches. The fund raising would be subject to all statutory and regulatory approvals, it said.
The announcement was made after market hours yesterday, 9 March 2021. Shares of Indian Bank fell 2.94% to settle at Rs 135.30 yesterday.
Indian Bank is a public sector bank. The Government of India held 88.06% stake in the bank as on 31 December 2020.