Shares of HDFC on Monday settled with gains of over 6%, catapulting the company's market capitalisation by more than Rs 17,365 crore.
During the day, shares of HDFC surged over 7.08% to its 52-week high level of Rs 1,886 after the company said it plans to raise up to Rs 13,000 crore via QIP and preference shares.
At the end of Monday's trading session, the stock was quoted at Rs 1,869.95, up 6.17% on the BSE. Following the uptick in the stock, the market capitalisation of the company improved by Rs 17,365 crore to Rs 2,98,741.62 crore. On NSE, the stock jumped to a 52-week high of Rs 1,886.80, up 7.10% over the last close. It finally ended at Rs 1,863, higher by 5.80% over its previous close. This will be the first equity raising by the country's largest pure-play mortgage lender in over a decade.
The board approved issuance of 6.43 crore shares of face value of Rs 2 each on a preferential basis at a price of Rs 1,726.05 per share, aggregating to Rs 11,103.66 crore to various investors including Azim Premji Trust.
A total of 3.01 crore shares will be issued to an affiliate of GIC Waverly Pte, 1 crore shares to the administrator of the pension plan for Ontario's municipal employees (OMERS) of Canada and about 92 lakh shares to KKR firm Silverview Investment Pte, it said.
The board also approved issuance of such number of shares of face value of Rs 2 each through QIP.