In addition to the issuance of convertible securities and non-convertible debentures, the board also approved raising Rs 3,000 crore through private placement and/or public issuance. The funds will be used to replace short-maturity loans, meet working capital requirements, reimburse capex, and for general corporate purposes. A fresh approval is being sought from shareholders for its previous plan to raise Rs 14,000 crore through the issuance of non-convertible debentures and convertible securities.
HDFC Life Q4 Results: Cons PAT rises 15% YoY to Rs 475 crore, revenue jumps 16%
The company’s board also recommended a final dividend of Rs 2.10 per equity share for the financial year 2024–25.