HUDCO
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HUDCO FY2025-26 Loan Sanctions At 1.65 Trillion Rupees, Up 28.8% Year-On-Year
March 31 (Reuters) - Housing and Urban Development Corporation Ltd HUDC.NS:
HUDCO - FY2025-26 LOAN SANCTIONS AT 1.65 TRILLION RUPEES, UP 28.8% YEAR-ON-YEAR
HUDCO - FY2025-26 LOAN DISBURSEMENTS AT 511.94 BILLION RUPEES, UP 27.9% YEAR-ON-YEAR
Source text: ID:nNSEbMG9Jf
Further company coverage: HUDC.NS
March 31 (Reuters) - Housing and Urban Development Corporation Ltd HUDC.NS:
HUDCO - FY2025-26 LOAN SANCTIONS AT 1.65 TRILLION RUPEES, UP 28.8% YEAR-ON-YEAR
HUDCO - FY2025-26 LOAN DISBURSEMENTS AT 511.94 BILLION RUPEES, UP 27.9% YEAR-ON-YEAR
Source text: ID:nNSEbMG9Jf
Further company coverage: HUDC.NS
Hudco Says Annual Borrowing Plan Of Amount Upto 700 Billion Rupees For FY 2026-27
March 23 (Reuters) - Housing and Urban Development Corporation Ltd HUDC.NS:
ANNUAL BORROWING PLAN / PROGRAMME OF AMOUNT UPTO 700 BILLION RUPEES FOR FY 2026-27
DIVIDEND OF 1.25 RUPEES PER SHARE
Source text: ID:nBSE5076Zt
Further company coverage: HUDC.NS
March 23 (Reuters) - Housing and Urban Development Corporation Ltd HUDC.NS:
ANNUAL BORROWING PLAN / PROGRAMME OF AMOUNT UPTO 700 BILLION RUPEES FOR FY 2026-27
DIVIDEND OF 1.25 RUPEES PER SHARE
Source text: ID:nBSE5076Zt
Further company coverage: HUDC.NS
HUDCO To Raise 14.42 Bln Rupees Through Debentures
Feb 13 (Reuters) - Housing and Urban Development Corporation Ltd HUDC.NS:
TO RAISE 14.42 BILLION RUPEES THROUGH DEBENTURES
DEBENTURE ISSUE BASE SIZE 5 BILLION RUPEES, WITH GREEN SHOE OPTION OF 9.42 BILLION RUPEES
Source text: ID:nBSE5mjDSl
Further company coverage: HUDC.NS
Feb 13 (Reuters) - Housing and Urban Development Corporation Ltd HUDC.NS:
TO RAISE 14.42 BILLION RUPEES THROUGH DEBENTURES
DEBENTURE ISSUE BASE SIZE 5 BILLION RUPEES, WITH GREEN SHOE OPTION OF 9.42 BILLION RUPEES
Source text: ID:nBSE5mjDSl
Further company coverage: HUDC.NS
India New Issue-HUDCO accepts bids for perpetual bonds, bankers say
MUMBAI, Feb 11 (Reuters) - India's Housing and Urban Development Corp (HUDCO) HUDC.NS accepts bids worth 14.42 billion rupees ($159.06 million) for the sale of perpetual bonds, three bankers said on Wednesday.
The company will pay a coupon of 7.87%, and had invited commitment bids from bankers and investors earlier in the day, they said.
The bonds will have a call option at the end of 10 years, and the coupon would be stepped up by 50 basis points, if the call is not exercised.
HUDCO did not reply to a Reuters' email seeking comment.
Here is the list of deals reported so far on February 11:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
HUDCO | perpetual | 7.87 | 14.42 | February 11 | AAA (Care, Acuite) |
* Size includes base plus greenshoe for some issues
($1 = 90.6600 Indian rupees)
(Reporting by Khushi Malhotra and Dharamraj Dhutia)
MUMBAI, Feb 11 (Reuters) - India's Housing and Urban Development Corp (HUDCO) HUDC.NS accepts bids worth 14.42 billion rupees ($159.06 million) for the sale of perpetual bonds, three bankers said on Wednesday.
The company will pay a coupon of 7.87%, and had invited commitment bids from bankers and investors earlier in the day, they said.
The bonds will have a call option at the end of 10 years, and the coupon would be stepped up by 50 basis points, if the call is not exercised.
HUDCO did not reply to a Reuters' email seeking comment.
Here is the list of deals reported so far on February 11:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
HUDCO | perpetual | 7.87 | 14.42 | February 11 | AAA (Care, Acuite) |
* Size includes base plus greenshoe for some issues
($1 = 90.6600 Indian rupees)
(Reporting by Khushi Malhotra and Dharamraj Dhutia)
India New Issue-Hudco to issue perpetual bonds, bankers say
MUMBAI, Feb 10 (Reuters) - India's Housing and Urban Development Corp (HUDCO) HUDC.NS plans to raise 15 billion rupees ($165.46 million), which includes 10 billion rupees of a greenshoe option through sale of perpetual bonds, three bankers said on Tuesday.
The company has invited coupon and commitment bids from bankers and investors on Wednesday, they said.
The bonds will have a call option at the end of 10 years, and the coupon would be stepped up by 50 basis points, if the call is not exercised.
HUDCO did not reply to a Reuters' email seeking comment.
Here is the list of deals reported so far on February 10:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
HUDCO | Perpetual | To be decided | 5+10 | February 11 | AAA (Care, Acuite) |
* Size includes base plus greenshoe for some issues
($1 = 90.6570 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Sherry Jacob-Phillips)
MUMBAI, Feb 10 (Reuters) - India's Housing and Urban Development Corp (HUDCO) HUDC.NS plans to raise 15 billion rupees ($165.46 million), which includes 10 billion rupees of a greenshoe option through sale of perpetual bonds, three bankers said on Tuesday.
The company has invited coupon and commitment bids from bankers and investors on Wednesday, they said.
The bonds will have a call option at the end of 10 years, and the coupon would be stepped up by 50 basis points, if the call is not exercised.
HUDCO did not reply to a Reuters' email seeking comment.
Here is the list of deals reported so far on February 10:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
HUDCO | Perpetual | To be decided | 5+10 | February 11 | AAA (Care, Acuite) |
* Size includes base plus greenshoe for some issues
($1 = 90.6570 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Sherry Jacob-Phillips)
HUDCO To Consider Issue Of NCDs On Feb 13
Feb 9 (Reuters) - Housing and Urban Development Corporation Ltd HUDC.NS:
HUDCO - TO CONSIDER ISSUE OF NCDS ON FEB 13
Source text: ID:nBSElNRV2
Further company coverage: HUDC.NS
Feb 9 (Reuters) - Housing and Urban Development Corporation Ltd HUDC.NS:
HUDCO - TO CONSIDER ISSUE OF NCDS ON FEB 13
Source text: ID:nBSElNRV2
Further company coverage: HUDC.NS
HUDCO Signs MoU With Government Of Chhattisgarh
Jan 7 (Reuters) - Housing and Urban Development Corporation Ltd HUDC.NS:
SIGNS MOU WITH GOVERNMENT OF CHHATTISGARH
TO PROVIDE UP TO 1 TRILLION RUPEES FOR PROJECTS IN CHHATTISGARH
Source text: ID:nBSE3wB5J6
Further company coverage: HUDC.NS
Jan 7 (Reuters) - Housing and Urban Development Corporation Ltd HUDC.NS:
SIGNS MOU WITH GOVERNMENT OF CHHATTISGARH
TO PROVIDE UP TO 1 TRILLION RUPEES FOR PROJECTS IN CHHATTISGARH
Source text: ID:nBSE3wB5J6
Further company coverage: HUDC.NS
HUDCO Provisional Q3 FY 2025-26 Loan Sanctions Of 461.67 Billion Rupees
Dec 31 (Reuters) - Housing and Urban Development Corporation Ltd HUDC.NS:
PROVISIONAL Q3 FY 2025-26 LOAN SANCTIONS OF 461.67 BILLION RUPEES
Q3 LOAN DISBURSEMENTS OF 155.08 BILLION RUPEES
Source text: ID:nNSE8NxjV7
Further company coverage: HUDC.NS
Dec 31 (Reuters) - Housing and Urban Development Corporation Ltd HUDC.NS:
PROVISIONAL Q3 FY 2025-26 LOAN SANCTIONS OF 461.67 BILLION RUPEES
Q3 LOAN DISBURSEMENTS OF 155.08 BILLION RUPEES
Source text: ID:nNSE8NxjV7
Further company coverage: HUDC.NS
HUDCO Approves Raising Of Debentures Upto 19.05 Billion Rupees
Dec 12 (Reuters) - Housing and Urban Development Corporation Ltd HUDC.NS:
HUDCO - APPROVED RAISING OF DEBENTURES UPTO 19.05 BILLION RUPEES
HUDCO - NCD ISSUE WITH GREEN SHOE OPTION OF 14.05 BILLION RUPEES
Source text: ID:nBSE93NM51
Further company coverage: HUDC.NS
Dec 12 (Reuters) - Housing and Urban Development Corporation Ltd HUDC.NS:
HUDCO - APPROVED RAISING OF DEBENTURES UPTO 19.05 BILLION RUPEES
HUDCO - NCD ISSUE WITH GREEN SHOE OPTION OF 14.05 BILLION RUPEES
Source text: ID:nBSE93NM51
Further company coverage: HUDC.NS
Housing And Urban Development Corporation Signs MoU With NBCC In New Delhi
Sept 19 (Reuters) - Housing and Urban Development Corporation Ltd HUDC.NS:
HOUSING AND URBAN DEVELOPMENT CORPORATION - SIGNS MOU WITH NBCC IN NEW DELHI
Source text: ID:nBSE67cV3X
Further company coverage: HUDC.NS
Sept 19 (Reuters) - Housing and Urban Development Corporation Ltd HUDC.NS:
HOUSING AND URBAN DEVELOPMENT CORPORATION - SIGNS MOU WITH NBCC IN NEW DELHI
Source text: ID:nBSE67cV3X
Further company coverage: HUDC.NS
Housing And Urban Development Corporation Signs Pact With Nagpur Metropolitan Region Development Authority
India New Issue-HUDCO withdraws 3-year bond issue, bankers say
MUMBAI, Aug 26 (Reuters) - India's Housing and Urban Development Corp HUDC.NS has withdrawn its planned 3-year bond issue, three bankers said on Tuesday.
The company had planned to raise 30 billion rupees ($341.7 million) through the issue and had invited coupon and commitment bids earlier in the day, they said.
HUDCO did not immediately reply to a Reuters email seeking comment.
"Had HUDCO taken the full 30 billion rupees, the cutoff would have been 6.88%," one of the banker said.
($1 = 87.5060 Indian rupees)
(Reporting by Khushi Malhotra)
MUMBAI, Aug 26 (Reuters) - India's Housing and Urban Development Corp HUDC.NS has withdrawn its planned 3-year bond issue, three bankers said on Tuesday.
The company had planned to raise 30 billion rupees ($341.7 million) through the issue and had invited coupon and commitment bids earlier in the day, they said.
HUDCO did not immediately reply to a Reuters email seeking comment.
"Had HUDCO taken the full 30 billion rupees, the cutoff would have been 6.88%," one of the banker said.
($1 = 87.5060 Indian rupees)
(Reporting by Khushi Malhotra)
India New Issue-HUDCO to issue 3-year bonds, bankers say
MUMBAI, Aug 22 (Reuters) - India's Housing and Urban Development Corp HUDC.NS (HUDCO) plans to raise 30 billion rupees ($342.75 million), including a greenshoe option of 25 billion rupees, selling bonds maturing in three years, three bankers said on Friday.
The company has invited coupon and commitment bids from bankers and investors on Tuesday, they said.
HUDCO did not reply to a Reuters email seeking comment.
Here is the list of deals reported so far on August 22:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
HUDCO | 3 years | To be decided | 5+25 | August 26 | AAA (Icra, India Ratings) |
Poonawalla Fincorp | 2 years and 6 months | 7.52 | 5 | August 22 | AAA (Crisil) |
*Size includes base plus greenshoe for some issues
($1 = 87.5262 Indian rupees)
(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Nivedita Bhattacharjee)
MUMBAI, Aug 22 (Reuters) - India's Housing and Urban Development Corp HUDC.NS (HUDCO) plans to raise 30 billion rupees ($342.75 million), including a greenshoe option of 25 billion rupees, selling bonds maturing in three years, three bankers said on Friday.
The company has invited coupon and commitment bids from bankers and investors on Tuesday, they said.
HUDCO did not reply to a Reuters email seeking comment.
Here is the list of deals reported so far on August 22:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
HUDCO | 3 years | To be decided | 5+25 | August 26 | AAA (Icra, India Ratings) |
Poonawalla Fincorp | 2 years and 6 months | 7.52 | 5 | August 22 | AAA (Crisil) |
*Size includes base plus greenshoe for some issues
($1 = 87.5262 Indian rupees)
(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Nivedita Bhattacharjee)
Hudco Dividend Of 1.15 Rupees Per Share
Aug 6 (Reuters) - Housing and Urban Development Corporation Ltd HUDC.NS:
HUDCO - DIVIDEND OF 1.15 RUPEES PER SHARE
Source text: ID:nnAZN4BNYXW
Further company coverage: HUDC.NS
Aug 6 (Reuters) - Housing and Urban Development Corporation Ltd HUDC.NS:
HUDCO - DIVIDEND OF 1.15 RUPEES PER SHARE
Source text: ID:nnAZN4BNYXW
Further company coverage: HUDC.NS
HUDCO Approves Raising Up To 30 Bln Rupees Via NCDs
July 17 (Reuters) - Housing and Urban Development Corporation Ltd HUDC.NS:
APPROVED RAISING UP TO 30 BILLION RUPEES VIA NCDS
Source text: ID:nnAZN473EJ3
Further company coverage: HUDC.NS
July 17 (Reuters) - Housing and Urban Development Corporation Ltd HUDC.NS:
APPROVED RAISING UP TO 30 BILLION RUPEES VIA NCDS
Source text: ID:nnAZN473EJ3
Further company coverage: HUDC.NS
India New Issue-HUDCO accepts bids for 3-year bonds worth 30 billion rupees, bankers say
MUMBAI, July 15 (Reuters) - India's Housing and Urban Development Corp HUDC.NS (HUDCO) has accepted bids worth 30 billion rupees ($349.74 million) for bonds maturing in three years, three bankers said on Tuesday.
The company will pay an annual coupon of 6.64% and had invited coupon and commitment bids from bankers and investors earlier in the day, they said.
HUDCO did not reply to a Reuters email seeking comment.
Here is the list of deals reported so far on July 15:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
HUDCO | 3 years | 6.64 | 30 | July 15 | AAA (Icra, India Ratings) |
Bajaj Housing Finance | 3 years | 6.97 | 5+5 | July 16 | AAA (Crisil) |
*Size includes base plus greenshoe for some issues
($1 = 85.7770 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Harikrishnan Nair)
MUMBAI, July 15 (Reuters) - India's Housing and Urban Development Corp HUDC.NS (HUDCO) has accepted bids worth 30 billion rupees ($349.74 million) for bonds maturing in three years, three bankers said on Tuesday.
The company will pay an annual coupon of 6.64% and had invited coupon and commitment bids from bankers and investors earlier in the day, they said.
HUDCO did not reply to a Reuters email seeking comment.
Here is the list of deals reported so far on July 15:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
HUDCO | 3 years | 6.64 | 30 | July 15 | AAA (Icra, India Ratings) |
Bajaj Housing Finance | 3 years | 6.97 | 5+5 | July 16 | AAA (Crisil) |
*Size includes base plus greenshoe for some issues
($1 = 85.7770 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Harikrishnan Nair)
India New Issue-HUDCO accepts bids for 3-year bonds, bankers say
MUMBAI, June 4 (Reuters) - India's Housing and Urban Development Corp HUDC.NS (HUDCO) has accepted bids worth 7.50 billion rupees ($87.25 million) for bonds maturing in three years, three bankers said on Wednesday.
The company will pay an annual coupon of 6.52% and had invited coupon and commitment bids from bankers and investors earlier in the day, they said.
HUDCO did not reply to a Reuters email seeking comment.
Here is the list of deals reported so far on June 4:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
HUDCO | 3 years | 6.52 | 7.50 | June 4 | AAA (Icra, India Ratings) |
*Size includes base plus greenshoe for some issues
($1 = 85.9600 Indian rupees)
(Reporting by Dharamraj Dhutia and Khushi Malhotra
)
MUMBAI, June 4 (Reuters) - India's Housing and Urban Development Corp HUDC.NS (HUDCO) has accepted bids worth 7.50 billion rupees ($87.25 million) for bonds maturing in three years, three bankers said on Wednesday.
The company will pay an annual coupon of 6.52% and had invited coupon and commitment bids from bankers and investors earlier in the day, they said.
HUDCO did not reply to a Reuters email seeking comment.
Here is the list of deals reported so far on June 4:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
HUDCO | 3 years | 6.52 | 7.50 | June 4 | AAA (Icra, India Ratings) |
*Size includes base plus greenshoe for some issues
($1 = 85.9600 Indian rupees)
(Reporting by Dharamraj Dhutia and Khushi Malhotra
)
HUDCO March-Quarter Consol Profit 7.28 Bln Rupees
May 7 (Reuters) - Housing and Urban Development Corporation Ltd HUDC.NS:
MARCH-QUARTER CONSOL PROFIT 7.28 BILLION RUPEES
MARCH-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 28.45 BILLION RUPEES
DIVIDEND 1.05 RUPEESPER SHARE
Source text: [ID:]
Further company coverage: HUDC.NS
May 7 (Reuters) - Housing and Urban Development Corporation Ltd HUDC.NS:
MARCH-QUARTER CONSOL PROFIT 7.28 BILLION RUPEES
MARCH-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 28.45 BILLION RUPEES
DIVIDEND 1.05 RUPEESPER SHARE
Source text: [ID:]
Further company coverage: HUDC.NS
HUDCO Approved Raising Of Debentures Worth Up To 21.9 Billion Rupees
May 6 (Reuters) - Housing and Urban Development Corporation Ltd HUDC.NS:
HUDCO - APPROVED RAISING OF DEBENTURES WORTH UP TO 21.9 BILLION RUPEES
Source text: ID:nBSE2sqnxQ
Further company coverage: HUDC.NS
May 6 (Reuters) - Housing and Urban Development Corporation Ltd HUDC.NS:
HUDCO - APPROVED RAISING OF DEBENTURES WORTH UP TO 21.9 BILLION RUPEES
Source text: ID:nBSE2sqnxQ
Further company coverage: HUDC.NS
India New Issue-HUDCO accepts bids for 5-year bonds, bankers say
MUMBAI, May 2 (Reuters) - India's Housing and Urban Development Corp (HUDCO) HUDC.NS has accepted bids worth 21.90 billion rupees ($261.2 million) for bonds maturing in five years, three bankers said on Friday.
The company will pay an annual coupon of 6.90% on this issue, and had invited coupon and commitment bids from bankers and investors earlier in the day, they said.
HUDCO did not reply to a Reuters email seeking comment.
Here is the list of deals reported so far on May 2:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
HUDCO | 5 years | 6.90 | 21.90 | May 2 | AAA (Icra, India Ratings) |
*Size includes base plus greenshoe for some issues
($1 = 83.8490 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Varun H K)
MUMBAI, May 2 (Reuters) - India's Housing and Urban Development Corp (HUDCO) HUDC.NS has accepted bids worth 21.90 billion rupees ($261.2 million) for bonds maturing in five years, three bankers said on Friday.
The company will pay an annual coupon of 6.90% on this issue, and had invited coupon and commitment bids from bankers and investors earlier in the day, they said.
HUDCO did not reply to a Reuters email seeking comment.
Here is the list of deals reported so far on May 2:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
HUDCO | 5 years | 6.90 | 21.90 | May 2 | AAA (Icra, India Ratings) |
*Size includes base plus greenshoe for some issues
($1 = 83.8490 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Varun H K)
India New Issue-HUDCO to issue 5-year bonds, bankers say
MUMBAI, April 30 (Reuters) - India's Housing and Urban Development Corp (HUDCO) HUDC.NS plans to raise 30 billion rupees ($352 million), including a greenshoe option of 25 billion rupees, through a sale of bonds maturing in five years, three bankers said on Wednesday.
The company has invited coupon and commitment bids from bankers and investors for the issue on Friday, they said.
HUDCO did not reply to a Reuters email seeking comment.
Here is the list of deals reported so far on April 30:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
HUDCO | 5 years | To be decided | 5+25 | May 2 | AAA (Icra, India Ratings) |
*Size includes base plus greenshoe for some issues
($1 = 85.2360 Indian rupees)
(Reporting by Dharamraj Dhutia
Editing by Sonia Cheema)
MUMBAI, April 30 (Reuters) - India's Housing and Urban Development Corp (HUDCO) HUDC.NS plans to raise 30 billion rupees ($352 million), including a greenshoe option of 25 billion rupees, through a sale of bonds maturing in five years, three bankers said on Wednesday.
The company has invited coupon and commitment bids from bankers and investors for the issue on Friday, they said.
HUDCO did not reply to a Reuters email seeking comment.
Here is the list of deals reported so far on April 30:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
HUDCO | 5 years | To be decided | 5+25 | May 2 | AAA (Icra, India Ratings) |
*Size includes base plus greenshoe for some issues
($1 = 85.2360 Indian rupees)
(Reporting by Dharamraj Dhutia
Editing by Sonia Cheema)
Indian state-run firms seek government nod to issue deep-discount, long-tenor debt
Updates throughout
By Khushi Malhotra and Dharamraj Dhutia
MUMBAI, April 22 (Reuters) - At least six Indian state-run companies have sought government approval to issue deep-discount bonds, opting for a rarely used corporate bond structure to raise relatively cheaper funds, four sources aware of the matter said on Tuesday.
These companies are Indian Railway Finance Corp (IRFC) INID.NS, Indian Renewable Energy Development Agency (IREDA) INAR.NS, Power Grid Corp of India (PGC) PGRD.NS, REC RECM.NS, SIDBI and NABARD, the sources said.
REC has yet again sought permission to issue these bonds, after having raised 50 billion rupees ($587 million) similarly in September, when aggressive bids led to lower-than-expected yields.
REC confirmed the development but none of the other firms replied to Reuters emails seeking comment.
Deep-discount bonds are generally issued at a more than 20%-25% discount to their face value and do not pay regular interest, a feature similar to zero-coupon notes that removes reinvestment risks.
The surge in interest from companies to raise funds via these bonds is because they reduce overall borrowing costs in an environment when interest rates are seen falling further.
For investors, these bonds, though not tax-free, offer a significant long-term capital gains benefit. That, along with the rarity of such issues, is boosting demand for such notes, bankers said.
"At maturity, investors receive a profit which is taxable as per capital gains rates. This helps reduce the effective tax rate for investors making zero-coupon bonds attractive," said Nikhil Aggarwal, founder and CEO of online bond trading platform Grip Invest.
Last week, Housing and Urban Development Corp (HUDCO) HUDC.NS became the third state-run company to get approval to issue these bonds.
"HUDCO was the most likely candidate and they have got the approval and we expect REC and IRFC to be the next likely candidates," one of the sources said.
The sources said the government's approval may come in phases as they are not comfortable with a surge in the supply of zero-coupon bonds. The sources refused to be identified as they are not authorised to speak to the media.
HUDCO got approval to raise 50 billion rupees through bonds with a maturity of 10 years and one month, while Power Finance Corp (PFC) PWFC.NS was approved to raise 100 billion rupees in March. Both have until the end of March 2027 to raise these funds.
($1 = 85.1780 Indian rupees)
(Reporting by Khushi Malhotra and Dharamraj Dhutia; Editing by Savio D'Souza)
Updates throughout
By Khushi Malhotra and Dharamraj Dhutia
MUMBAI, April 22 (Reuters) - At least six Indian state-run companies have sought government approval to issue deep-discount bonds, opting for a rarely used corporate bond structure to raise relatively cheaper funds, four sources aware of the matter said on Tuesday.
These companies are Indian Railway Finance Corp (IRFC) INID.NS, Indian Renewable Energy Development Agency (IREDA) INAR.NS, Power Grid Corp of India (PGC) PGRD.NS, REC RECM.NS, SIDBI and NABARD, the sources said.
REC has yet again sought permission to issue these bonds, after having raised 50 billion rupees ($587 million) similarly in September, when aggressive bids led to lower-than-expected yields.
REC confirmed the development but none of the other firms replied to Reuters emails seeking comment.
Deep-discount bonds are generally issued at a more than 20%-25% discount to their face value and do not pay regular interest, a feature similar to zero-coupon notes that removes reinvestment risks.
The surge in interest from companies to raise funds via these bonds is because they reduce overall borrowing costs in an environment when interest rates are seen falling further.
For investors, these bonds, though not tax-free, offer a significant long-term capital gains benefit. That, along with the rarity of such issues, is boosting demand for such notes, bankers said.
"At maturity, investors receive a profit which is taxable as per capital gains rates. This helps reduce the effective tax rate for investors making zero-coupon bonds attractive," said Nikhil Aggarwal, founder and CEO of online bond trading platform Grip Invest.
Last week, Housing and Urban Development Corp (HUDCO) HUDC.NS became the third state-run company to get approval to issue these bonds.
"HUDCO was the most likely candidate and they have got the approval and we expect REC and IRFC to be the next likely candidates," one of the sources said.
The sources said the government's approval may come in phases as they are not comfortable with a surge in the supply of zero-coupon bonds. The sources refused to be identified as they are not authorised to speak to the media.
HUDCO got approval to raise 50 billion rupees through bonds with a maturity of 10 years and one month, while Power Finance Corp (PFC) PWFC.NS was approved to raise 100 billion rupees in March. Both have until the end of March 2027 to raise these funds.
($1 = 85.1780 Indian rupees)
(Reporting by Khushi Malhotra and Dharamraj Dhutia; Editing by Savio D'Souza)
India New Issue-HUDCO accepts bids for 7-year bonds, bankers say
MUMBAI, April 21 (Reuters) - India's Housing and Urban Development Corp (HUDCO) HUDC.NS has accepted bids worth 24.3 billion rupees ($285.53 million) for bonds maturing in seven years, three bankers said on Monday.
The company will pay an annual coupon of 6.90% on this issue and had invited coupon and commitment bids from bankers and investors earlier in the day, they said.
HUDCO did not reply to a Reuters email seeking comment.
Here is the list of deals reported so far on April 21:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
HUDCO | 7 years | 6.90 | 24.3 | April 21 | AAA (Icra, India Ratings, Care) |
Sundaram Finance | 2 years | 7.35 | 7.5 | April 22 | AAA (Icra) |
Poonawalla Fincorp | 2 years | 7.65 | 11.60 | April 17 | AAA (Crisil) |
Poonawalla Fincorp | 3 years | 7.70 | 3.65 | April 17 | AAA (Crisil) |
*Size includes base plus greenshoe for some issues
($1 = 85.1050 Indian rupees)
(Reporting by Khushi Malhotra and Dharamraj Dhutia; Editing by Janane Venkatraman)
MUMBAI, April 21 (Reuters) - India's Housing and Urban Development Corp (HUDCO) HUDC.NS has accepted bids worth 24.3 billion rupees ($285.53 million) for bonds maturing in seven years, three bankers said on Monday.
The company will pay an annual coupon of 6.90% on this issue and had invited coupon and commitment bids from bankers and investors earlier in the day, they said.
HUDCO did not reply to a Reuters email seeking comment.
Here is the list of deals reported so far on April 21:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
HUDCO | 7 years | 6.90 | 24.3 | April 21 | AAA (Icra, India Ratings, Care) |
Sundaram Finance | 2 years | 7.35 | 7.5 | April 22 | AAA (Icra) |
Poonawalla Fincorp | 2 years | 7.65 | 11.60 | April 17 | AAA (Crisil) |
Poonawalla Fincorp | 3 years | 7.70 | 3.65 | April 17 | AAA (Crisil) |
*Size includes base plus greenshoe for some issues
($1 = 85.1050 Indian rupees)
(Reporting by Khushi Malhotra and Dharamraj Dhutia; Editing by Janane Venkatraman)
HUDCO Says Bond Allotment Committee Proposes To Approve Issue Of NCDs Up To 25 Bln Rupees
April 17 (Reuters) - Housing and Urban Development Corporation Ltd HUDC.NS:
BOND ALLOTMENT COMMITTEE PROPOSES TO APPROVE ISSUE OF NCDS UP TO 25 BILLION RUPEES
Source text: ID:nBSE99ySVc
Further company coverage: HUDC.NS
April 17 (Reuters) - Housing and Urban Development Corporation Ltd HUDC.NS:
BOND ALLOTMENT COMMITTEE PROPOSES TO APPROVE ISSUE OF NCDS UP TO 25 BILLION RUPEES
Source text: ID:nBSE99ySVc
Further company coverage: HUDC.NS
India New Issue-HUDCO to issue 7-year bonds, bankers say
MUMBAI, April 16 (Reuters) - India's Housing and Urban Development Corp (HUDCO) HUDC.NS plans to raise 25 billion rupees ($292 million), including a greenshoe option of 20 billion rupees, through the sale of bonds maturing in seven years, three bankers said on Wednesday.
The company has invited coupon and commitment bids from bankers and investors on Monday, they said.
HUDCO did not reply to a Reuters email seeking comment.
Here is the list of deals reported so far on 16:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
HUDCO | 7 years | To be decided | 5+20 | April 21 | AAA (Icra, India Ratings, Care) |
Altius Telecom Infra Trust | 10 years | 7.45 (quarterly | 12 | April 17 | AAA (Crisil, Care) |
Bajaj Finance | 3 years and 2 months | 7.3763 (yield) | 5 | April 16 | AAA (Crisil) |
Poonawalla Fincorp | 2 years | 7.65 | 11.60 | April 17 | AAA (Crisil) |
Poonawalla Fincorp | 3 years | 7.70 | 2.15+5 | April 17 | AAA (Crisil) |
*Size includes base plus greenshoe for some issues
($1 = 85.6120 Indian rupees)
(Reporting by Khushi Malhotra and Dharamraj Dhutia; Editing by Savio D'Souza)
MUMBAI, April 16 (Reuters) - India's Housing and Urban Development Corp (HUDCO) HUDC.NS plans to raise 25 billion rupees ($292 million), including a greenshoe option of 20 billion rupees, through the sale of bonds maturing in seven years, three bankers said on Wednesday.
The company has invited coupon and commitment bids from bankers and investors on Monday, they said.
HUDCO did not reply to a Reuters email seeking comment.
Here is the list of deals reported so far on 16:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
HUDCO | 7 years | To be decided | 5+20 | April 21 | AAA (Icra, India Ratings, Care) |
Altius Telecom Infra Trust | 10 years | 7.45 (quarterly | 12 | April 17 | AAA (Crisil, Care) |
Bajaj Finance | 3 years and 2 months | 7.3763 (yield) | 5 | April 16 | AAA (Crisil) |
Poonawalla Fincorp | 2 years | 7.65 | 11.60 | April 17 | AAA (Crisil) |
Poonawalla Fincorp | 3 years | 7.70 | 2.15+5 | April 17 | AAA (Crisil) |
*Size includes base plus greenshoe for some issues
($1 = 85.6120 Indian rupees)
(Reporting by Khushi Malhotra and Dharamraj Dhutia; Editing by Savio D'Souza)
Housing And Urban Development Corporation Signs MoU With MMRDA
April 8 (Reuters) - Housing and Urban Development Corporation Ltd HUDC.NS:
HOUSING AND URBAN DEVELOPMENT CORPORATION LTD - SIGNS MOU WITH MMRDA
HOUSING AND URBAN DEVELOPMENT CORPORATION LTD - TO PROVIDE FUNDS UP TO 1.50 TRILLION RUPEES OVER FIVE YEARS
HOUSING AND URBAN DEVELOPMENT CORP - TO EXTEND CONSULTANCY SERVICES, CAPACITY BUILDING ACTIVITIES
Source text: ID:nBSE7cPHDV
Further company coverage: HUDC.NS
April 8 (Reuters) - Housing and Urban Development Corporation Ltd HUDC.NS:
HOUSING AND URBAN DEVELOPMENT CORPORATION LTD - SIGNS MOU WITH MMRDA
HOUSING AND URBAN DEVELOPMENT CORPORATION LTD - TO PROVIDE FUNDS UP TO 1.50 TRILLION RUPEES OVER FIVE YEARS
HOUSING AND URBAN DEVELOPMENT CORP - TO EXTEND CONSULTANCY SERVICES, CAPACITY BUILDING ACTIVITIES
Source text: ID:nBSE7cPHDV
Further company coverage: HUDC.NS
Housing And Urban Development Corporation To Consider Raising Funds Up To 650 Bln Rupees In FY 2025-26
March 28 (Reuters) - Housing and Urban Development Corporation Ltd HUDC.NS:
TO CONSIDER RAISING FUNDS UP TO 650 BILLION RUPEES IN FY 2025-26
TO CONSIDER INCREASING BORROWING LIMIT TO 2.50 TRILLION RUPEES
Source text: ID:nBSECHPVb
Further company coverage: HUDC.NS
March 28 (Reuters) - Housing and Urban Development Corporation Ltd HUDC.NS:
TO CONSIDER RAISING FUNDS UP TO 650 BILLION RUPEES IN FY 2025-26
TO CONSIDER INCREASING BORROWING LIMIT TO 2.50 TRILLION RUPEES
Source text: ID:nBSECHPVb
Further company coverage: HUDC.NS
HUDCO Approves Raising Of Bonds Aggregating Upto 20 Billion Rupees On Private Placement Basis
March 27 (Reuters) - Housing and Urban Development Corporation Ltd HUDC.NS:
APPROVED RAISING OF BONDS AGGREGATING UPTO 20 BILLION RUPEES ON PRIVATE PLACEMENT BASIS
Source text: ID:nBSEQ3ds4
Further company coverage: HUDC.NS
March 27 (Reuters) - Housing and Urban Development Corporation Ltd HUDC.NS:
APPROVED RAISING OF BONDS AGGREGATING UPTO 20 BILLION RUPEES ON PRIVATE PLACEMENT BASIS
Source text: ID:nBSEQ3ds4
Further company coverage: HUDC.NS
India New Issue-HUDCO accepts bids for 10-year bonds, bankers say
MUMBAI, March 25 (Reuters) - India's Housing and Urban Development Corp (HUDCO) HUDC.NS has accepted bids worth 20 billion rupees ($233.1 million) for bonds maturing in 10 years, three bankers said on Tuesday.
The company will pay an annual coupon of 7.19% on this issue and had invited coupon and commitment bids from bankers and investors earlier in the day, they said.
HUDCO did not reply to a Reuters email seeking comment.
Here is the list of deals reported so far on March 25:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
HUDCO | 10 years | 7.19% | 20 | March 25 | AAA (Icra, India Ratings, Care) |
IREDA | 10 years | 7.74% | 9.10 | March 25 | AAA (Icra, India Ratings) |
Exim Bank | 5 years and 3 months | 7.12% | 23.5 | March 25 | AAA (Crisil, Icra) |
Axis Finance | 5 years | To be decided | 5+5 | March 26 | AAA (India Ratings) |
Toyota Financial Services | 2 years and 11 months | To be decided | 5 | March 26 | AAA (Icra) |
IIFCL | 7 years | To be decided | 2.50+7.50 | March 26 | AAA (Care, India Ratings) |
IRFC | 10 year and 1 month | To be decided | 5+25 | March 26 | AAA (Crisil, Icra, Care) |
Cholamandalam Investment | 2 years | To be decided | 10+2 | March 25 | AA+ (Icra, India Ratings) |
*Size includes base plus greenshoe for some issues
($1 = 85.7875 Indian rupees)
(Reporting by Khushi Malhotra; Editing by Mrigank Dhaniwala)
MUMBAI, March 25 (Reuters) - India's Housing and Urban Development Corp (HUDCO) HUDC.NS has accepted bids worth 20 billion rupees ($233.1 million) for bonds maturing in 10 years, three bankers said on Tuesday.
The company will pay an annual coupon of 7.19% on this issue and had invited coupon and commitment bids from bankers and investors earlier in the day, they said.
HUDCO did not reply to a Reuters email seeking comment.
Here is the list of deals reported so far on March 25:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
HUDCO | 10 years | 7.19% | 20 | March 25 | AAA (Icra, India Ratings, Care) |
IREDA | 10 years | 7.74% | 9.10 | March 25 | AAA (Icra, India Ratings) |
Exim Bank | 5 years and 3 months | 7.12% | 23.5 | March 25 | AAA (Crisil, Icra) |
Axis Finance | 5 years | To be decided | 5+5 | March 26 | AAA (India Ratings) |
Toyota Financial Services | 2 years and 11 months | To be decided | 5 | March 26 | AAA (Icra) |
IIFCL | 7 years | To be decided | 2.50+7.50 | March 26 | AAA (Care, India Ratings) |
IRFC | 10 year and 1 month | To be decided | 5+25 | March 26 | AAA (Crisil, Icra, Care) |
Cholamandalam Investment | 2 years | To be decided | 10+2 | March 25 | AA+ (Icra, India Ratings) |
*Size includes base plus greenshoe for some issues
($1 = 85.7875 Indian rupees)
(Reporting by Khushi Malhotra; Editing by Mrigank Dhaniwala)
India New Issue-HUDCO to issue 10-year bonds, bankers say
MUMBAI, March 21 (Reuters) - India's Housing and Urban Development Corp (HUDCO) HUDC.NS plans to raise 20 billion rupees ($232.8 million), including a greenshoe option of 15 billion rupees, selling bonds maturing in 10 years, three bankers said on Friday.
The company has invited coupon and commitment bids from bankers and investors on Tuesday, they said.
HUDCO did not reply to a Reuters email seeking comment.
Here is the list of deals reported so far on March 21:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
HUDCO | 10 years | To be decided | 5+15 | March 25 | AAA (Icra, India Ratings, Care) |
EXIM Bank | 5 years and 3 months | To be decided | 5+20 | March 25 | AAA (Crisil, Icra) |
LIC Housing Finance | 10 years | 7.58 | 70 | March 21 | AAA (Crisil, Care) |
*Size includes base plus greenshoe for some issues
($1 = 85.9220 Indian rupees)
(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Savio D'Souza)
MUMBAI, March 21 (Reuters) - India's Housing and Urban Development Corp (HUDCO) HUDC.NS plans to raise 20 billion rupees ($232.8 million), including a greenshoe option of 15 billion rupees, selling bonds maturing in 10 years, three bankers said on Friday.
The company has invited coupon and commitment bids from bankers and investors on Tuesday, they said.
HUDCO did not reply to a Reuters email seeking comment.
Here is the list of deals reported so far on March 21:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
HUDCO | 10 years | To be decided | 5+15 | March 25 | AAA (Icra, India Ratings, Care) |
EXIM Bank | 5 years and 3 months | To be decided | 5+20 | March 25 | AAA (Crisil, Icra) |
LIC Housing Finance | 10 years | 7.58 | 70 | March 21 | AAA (Crisil, Care) |
*Size includes base plus greenshoe for some issues
($1 = 85.9220 Indian rupees)
(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Savio D'Souza)
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What does Housing & Urban Dev. do?
HUDCO is a prominent public sector enterprise focused on financing housing and infrastructure development in India. It primarily lends to State Governments for social housing and residential real estate projects benefiting individual beneficiaries.
Who are the competitors of Housing & Urban Dev.?
Housing & Urban Dev. major competitors are LIC Housing Finance, PNB Housing Finance, Sammaan Capital, Can Fin Homes, Home First Finance, Aptus Value Housing, Aavas Financiers. Market Cap of Housing & Urban Dev. is ₹33,612 Crs. While the median market cap of its peers are ₹10,951 Crs.
Is Housing & Urban Dev. financially stable compared to its competitors?
Housing & Urban Dev. seems to be less financially stable compared to its competitors. Altman Z score of Housing & Urban Dev. is 0.38 and is ranked 6 out of its 8 competitors.
Does Housing & Urban Dev. pay decent dividends?
The company seems to pay a good stable dividend. Housing & Urban Dev. latest dividend payout ratio is 30.67% and 3yr average dividend payout ratio is 38.4%
How strong is Housing & Urban Dev. balance sheet?
Latest balance sheet of Housing & Urban Dev. is strong. Strength was visible historically as well.
Is the profitablity of Housing & Urban Dev. improving?
Yes, profit is increasing. The profit of Housing & Urban Dev. is ₹2,781 Crs for TTM, ₹2,709 Crs for Mar 2025 and ₹2,117 Crs for Mar 2024.
Is Housing & Urban Dev. stock expensive?
Yes, Housing & Urban Dev. is expensive. Latest PE of Housing & Urban Dev. is 12.09, while 3 year average PE is 11.99. Also latest Price to Book of Housing & Urban Dev. is 1.86 while 3yr average is 1.62.
Has the share price of Housing & Urban Dev. grown faster than its competition?
Housing & Urban Dev. has given better returns compared to its competitors. Housing & Urban Dev. has grown at ~51.2% over the last 4yrs while peers have grown at a median rate of 9.68%
Is the promoter bullish about Housing & Urban Dev.?
Promoters stake in the company seems stable, and we need to go through filings and allocation of resources to gauge promoter bullishness. Latest quarter promoter holding in Housing & Urban Dev. is 75.0% and last quarter promoter holding is 75.0%.
Are mutual funds buying/selling Housing & Urban Dev.?
The mutual fund holding of Housing & Urban Dev. is increasing. The current mutual fund holding in Housing & Urban Dev. is 3.0% while previous quarter holding is 2.39%.