HDFC Life Insurance has decided to raise ₹1,500 crore by issuing non-convertible debentures (NCDs). The company’s board approved this plan on Friday. HDFC Life will first issue ₹1,000 crore in NCDs, with an option to raise another ₹500 crore if needed through a greenshoe option. These NCDs will be offered on a private placement basis, carrying an interest rate of 8.05% for a 10-year period. The allotment is scheduled for October 9.
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