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HDFC Life Insurance Company on Friday said it will raise debt capital of up to ₹350 crore by issuing bonds on a private placement basis.
The Capital Raising Committee of the company’s board approved a proposal for raising up to ₹350 crore through issuance of 3,500 non-convertible debentures, HDFC Life said in a regulatory filing.
The company said the bonds will carry coupon rate of 8.20% per annum.
The bonds will be listed on wholesale debt market segment of NSE, it said.
HDFC Life stock was trading at ₹550 on the BSE, down 3.69% from the previous close.
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