HDFC doubles issue size to Rs 10 bln

Mumbai: India's Housing Development Finance Corp has upsized its issue to 10 billion rupees, double its initial size, as it received strong investor demand, three sources with direct knowledge of the matter told Reuters on Thursday.

We are seeing very good demand from corporates, insurance companies and foreign institutional investors, two sources said.

The arrangers have already received commitments for 8.50 billion, the sources said.

The company has maintained the pricing at 9.65 per cent.

Deutsche Bank has joined as the arranger along with ICICI Bank to the deal, said sources.

Source: Financial Express