New Delhi: State-owned Housing and Urban Development Corporation Limited (HUDCO) has withdrawn its proposed plan to raise up to Rs 3,000 crore through non-convertible debentures (NCDs), citing higher-than-expected coupon rates.
In a regulatory filing on Thursday, the company informed that the meeting of its Bond Allotment Committee, scheduled for August 29, to approve the issue and allotment of unsecured, taxable, redeemable, non-convertible, non-cumulative debentures of face value Rs 1 lakh each (Series-E 2025), has been cancelled.
HUDCO clarified that there is no impact on investors since no allotment of securities has been made pursuant to its earlier intimation.
Earlier, on August 25, HUDCO had announced its plan to raise up to Rs 3,000 crore through private placement of NCDs as part of its overall borrowing programme of Rs 65,000 crore approved for FY 2025-26.
HUDCO, a premier techno-financing public sector enterprise in housing and infrastructure development, recently reported a 13 percent year-on-year rise in consolidated net profit at Rs 630.23 crore for the first quarter of FY26, against Rs 557.75 crore in the same period last year. Its total income rose to Rs 2,945.47 crore from Rs 2,197.19 crore a year ago.
The company has also declared its first interim dividend of Rs 1.15 per equity share for 2025-26.
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