MUMBAI: Retail investors have given the thumbs up to Housing and Urban Development Corporation’s Rs 750-crore tax-free non-convertible debenture issue.
The retail investor portion (Category 4) was subscribed close to three times (2.94 times or 88.08 lakh bonds) of the allocated 30 lakh bonds of Rs 1,000 each.
The HNI portion (Category 3) was subscribed just over two times (2.03 times or over 45.68 lakh bonds) of the allocated 22.5 lakh bonds.
The company portion (Category 2) of 15 lakh bonds was oversubscribed 1.75 times with bids for over 26.29 lakh bonds coming in.
The DII and FII portion of 7.5 lakh bonds were oversubscribed 1.67 times with bids for 12.55 lakh bonds being recorded. Overall, the issue was oversubscribed 2.3 times (over 172.6 lakh bonds) as on September 27.
The issue of 75 lakh bonds of face value Rs 1,000 each, closes on October 14.The company has the option of retaining oversubscription up to the shelf limit of Rs 4,809.2 crore.
Interest rates for the NCD range 8.14-8.76 per cent depending on the investor category and the period of investment -- 10-20 years.