HDFC trades in green on the bourses

HDFC is currently trading at Rs. 886.40, up by 1.45 points or 0.16% from its previous closing of Rs. 884.95 on the BSE. The scrip opened at Rs. 887.80 and has touched a high and low of Rs. 891.35 and Rs. 877.45 respectively. So far 34959 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 933.00 on 10-Apr-2014 and a 52 week low of Rs. 632.20 on 28-Aug-2013. Last one week high and low of the scrip stood at Rs. 895.50 and Rs. 862.25 respectively. The current market cap of the company is Rs. 137951.08 crore.  The Institutions and Non-Institutions held 87.65% and 12.35% respectively. Housing Development Finance Corporation (HDFC), India’s largest housing finance company, has raised External Commercial Borrowing (ECB) of $300 million from a consortium of 4 lenders, State Bank of India (SBI), Sumitomo Mitsui Banking Corporation (SMBC), The Bank of Tokyo-Mitsubishi UFJ, and DBS Bank. The ECB which is in the form of a syndicated loan facility is a first by an Indian Housing Finance Company (HFC) under the low cost affordable housing scheme of Reserve Bank of India (RBI). SBI and SMBC are the original mandated lead arrangers and book runners, while The Bank of Tokyo-Mitsubishi UFJ and DBS Bank are mandated lead arrangers. The borrowing facility has a tenor of 5 years. The company has drawn-down the facility in February 2014 from the above consortium of lenders. The rate of interest on the facility is linked to USD Libor plus a spread of 1.75%. HDFC has swapped the facility in Indian Rupees for the entire tenor of the loan. Road shows shall be conducted by the lender banks in Taipei & Singapore in March 2014 to syndicate the facility and invite other international banks to participate in the facility. RBI in December 2012, permitted to HFCs/ NHB to raise ECBs for financing prospective owners of low cost affordable housing units. Low Cost Affordable Housing units have been defined as units where the property cost does not exceed Rs 30 lakhs, loan amount is capped at Rs 25 lakh and the carpet area does not exceed 60 square metres.