Company Announcements

Ref. No.: SE/2020-21/119

August 5, 2020

BSE Limited                                                               National Stock Exchange of India Limited

P. J. Towers                                                                 Exchange Plaza, Plot No. C/1, G Block,

Dalal Street                                                                 Bandra-Kurla Complex

Mumbai 400 001                                                         Bandra (East), Mumbai 400 051

Kind Attn: Sr. General Manager                               Kind Attn: Head - Listing

      DCS - Listing Department

Dear Sirs,

Ref:    Regulations 29 and 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations).

Sub:    Qualified institutions placement of equity shares and non-convertible debentures simultaneously with warrants (together, "Securities"), by Housing Development Finance Corporation Limited ("Corporation") under Chapter VI of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 ("ICDR Regulations") and other applicable regulations ("Issue"),

We thank you for your approval under Regulation 28(1) of the Listing Regulations in connection with the said Issue.

Further to our letter dated July 30, 2020 and in accordance with the captioned regulations, we wish to inform you that the Committee of Directors of the Corporation, duly constituted by the Board of Directors at its meeting held on July 30, 2020, at its meeting held today i.e. on Tuesday, August 5, 2020 passed the following resolutions:

-     Approved and declared the opening of the Issue today, i.e., on August 5, 2020;

-     Approved and adopted the preliminary placement document dated August 5, 2020, in connection with the Issue;

-     Approved and taken on record, the 'relevant date' for this purpose, in terms of Regulation 171(a) of the ICDR Regulations, which is August 5, 2020;

-     Approved and taken on record the floor price in respect of the Issue, based on the pricing formula as prescribed under Regulation 176 of the ICDR Regulations being, `1,838.94 per Equity Share and in accordance with the said regulation the Corporation at its absolute discretion may offer a discount of not more than 5% of the said floor price; and

In addition to the above, please note that a meeting of the Committee of Directors is scheduled to be held on Monday, August 10, 2020 to, amongst other things, consider and determine the issue price of the Securities to be issued by way of the Issue to qualified institutions buyers. The said information and other relevant details will be intimated to you, in accordance with the Listing Regulations.

The issue would comprise for an amount aggregating upto ` 14,000 crore by way of issue of equity shares and warrants and upto ` 9,000 crore by way of issue of Secured Redeemable Non-Convertible Debentures. The estimated cut off yield with respect to Secured Redeemable Non-Convertible Debentures will be notified as per the circulars issued under electronic bookbuild mechanism.

We request you to take note of the above and arrange to bring the same to the notice of all concerned. We request you to treat the same as compliance with the applicable provisions of the Listing Regulations.

Please note that the Meeting of the Committee of Directors commenced at 6.30 p.m. and concluded at 7.00 p.m. 

Thank you.

Yours faithfully,

For Housing Development Finance Corporation Limited

Ajay Agarwal

Company Secretary

cc:        London Stock Exchange,

            10, Paternoster Square, London, EC4M 7LS