Shares of Housing and City Improvement Company Ltd (HUDCO) rose 1.5% to the touch a day’s excessive of Rs 235.30 on twenty first April, after the agency stated it had acquired the inexperienced gentle from the Central Board of Direct Taxes (CBDT), Ministry of Finance, to problem zero coupon bonds value Rs 5,000 crore.
The agency has authorised issuing these bonds to assist infrastructure initiatives throughout India.
In line with an official notification, HUDCO can problem 5 lakh zero coupon bonds with a maturity of 10 years and one month. These shall be issued at a reduction of Rs 2,351.49 crore and should be rolled out by thirty first March 2027. Bondholders will obtain the total quantity at maturity.
The funds raised will solely be used for infrastructure initiatives that may repay the debt from their revenues with out counting on state governments. The time period “infrastructure” contains all sub-sectors listed by the Division of Financial Affairs and any future updates.
At present, the agency’s market capitalisation stands at round Rs 46,486 crore.
At 12:53 PM, the shares of HUDCO have been buying and selling 1.42% at Rs 232.08 on NSE.
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