HDFC Life Allots ₹749 Crore Subordinated Debentures with 7.63% Coupon Rate
HDFC Life Insurance allots 74,900 rated, listed, subordinated, redeemable debentures worth ₹749 crore at 7.63% annual coupon. Tenure 10 years, listed on NSE Debt Market.
HDFC Life Insurance Company Limited has allotted 74,900 unsecured, rated, listed, subordinated, redeemable, fully paid-up, non-cumulative, non-convertible debentures (NCDs) of ₹1 lakh each, aggregating to ₹749 crore, on a private placement basis. The allotment was approved by the Capital Raising Committee of the Board on December 15, 2025.
The debentures carry a fixed annual coupon of 7.63% and a tenure of 10 years, maturing on December 15, 2035, subject to the company’s call option. The instruments have received top-notch ratings – “ICRA AAA (Stable)” from ICRA Limited and “CARE AAA (Stable)” from CARE Ratings Limited – and will be listed on the National Stock Exchange’s new Debt Market.
Coupon payments will be made annually starting December 2026, while the principal will be redeemed at par on maturity. The debentures are unsecured and subordinated in nature, ensuring no enhancement of claims over the company’s policyholders or other creditors.
HDFC Life’s move reflects its strategic approach to capital management, supporting long-term growth and financial stability.