*Press Release*
*HDFC announces the successful conversion of Warrants with equity shares* In August 2009, HDFC had made a composite issue of Warrants with Non-Convertible Debentures (NCDs) of ` 10 lacs each, to Qualified Institutional Buyers (QIBs) on a Qualified Institutions Placement (QIP) basis, in accordance with the provisions of Chapter XIII-A of SEBI (Disclosure and Investor Protection) Guidelines, 2000 (since repealed). It was the first ever composite issue of NCDs with Warrants by any company in Asia [ex-Japan], which was offered to and fully subscribed by domestic institutional investors. In terms of the said issue, HDFC issued Zero Coupon NCDs aggregating to ` 4,000 crores, out of which NCDs worth ` 2,000 crores were redeemed in August 2011 and the balance ` 2,000 crores were redeemed in August 2012. The proceeds of the said Zero Coupon NCDs were utilized to subscribe to the preferential allotment of equity shares offered by HDFC Bank Limited. In terms of the said issue, every Warrant holder had a right to exchange the said Warrants with one equity share of ` 2 each of HDFC, on payment of `600 per equity share and the last date for submission of the Warrant Exchange Forms with the prescribed documents and consideration amount was Friday, August 24, 2012. Pursuant to the exchange of the Warrants, the Corporation issued and allotted 5,47,43,150 equity shares of ` 2 each and realised an amount of ` 3,284.59 crores, representing 99.95% of the Warrants issued. As of date, the paid-up equity share capital of HDFC is `* *307.61 crores and the balance in securities premium account stands at ` 9,297.14 crores The proceeds from the exchange of Warrants will be utilized to replace the Zero Coupon Bonds and consequently the Corporation will not earn any additional interest income on the amounts raised. Mumbai September 10, 2012 -- CA. Rajesh Desai -- You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en.
