Housing Development Finance Corporation (HDFC), leading housing finance provider, witnessed a sharp rise in share price on Monday after the company has raised over Rs 100 billion through mix of warrants and non-convertible debentures (NCDs) to qualified institutional investors (QIP).

The company has allotted 36.5 million warrants at an issue price of Rs 14 each, at an exercise price of Rs 1,475 a share amounting to Rs 53.84 billion.

'The warrant issue price of Rs 14 each would neither be adjusted against the exercise price nor would be refundable,' it said.

The company has raised Rs 50 billion through issuance of 5,000 non-convertible debentures (NCDs) of face value of Rs 1 crore each due in March 2017, carrying an annual coupon rate of 1.43%.

Shares of Housing Development Finance Corporation are trading at Rs 1,253.40, up Rs 54.15, or 4.52% at the Bombay Stock Exchange (BSE) on Monday at 12:41 p.m.

The scrip has touched an intra-day high of Rs 1,256 and low of Rs 1,206. The total volume of shares traded at the BSE is 55,001.