The board of HDFC Life Insurance coverage Firm has permitted issuing non-convertible debentures (NCDs) aggregating upto Rs 350 crore on non-public placement foundation.
The board permitted the proposal to situation upto 3,500 unsecured, rated, listed, subordinated, redeemable, totally paid-up, non-convertible debentures, every having a face worth of Rs 10 lakh every. These debentures are proposed to be listed on the WDM section of the Nationwide Inventory Trade of India. The coupon price for a similar has been determined at 8.20% each year.
HDFC Life Insurance coverage Firm is a three way partnership between HDFC, India’s main housing finance establishment and Abrdn (Mauritius Holdings) 2006, a worldwide funding firm.
On consolidated foundation, the life insurance coverage firm reported 12.4% rise in web revenue to Rs 357.52 crore on 11% enhance in web premium revenue to Rs 14,289.66 crore in This fall FY22 over This fall FY21.
The scrip fell 3.69% to Rs 550 on the BSE.
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