HDFC stocks gain over 6%, m-cap soars by Rs 17,365 crore

New Delhi: Shares of HDFC Ltd on Monday settled with gains of over 6 percent, catapulting the company’s market capitalisation by more than Rs 17,365 crore.

During the day, shares of HDFC surged over 7.08 percent 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 today’s trading session, the stock was quoted at Rs 1,869.95, up 6.17 percent on 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 percent over the last close. It finally ended at Rs 1,863, higher by 5.80 percent 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 1726.05 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 Qualified Institutional Placement (QIP) such that the total amount to be raised shall not exceed Rs 1,896 crore, subject to approval.