HDFC Life to finalise terms for proposed ₹750 crore subordinated debt issue on December 8

HDFC Life Insurance Company Ltd on Tuesday (December 2) said it has scheduled a meeting of its Capital Raising Committee (CRC) on December 8, 2025, to approve the commercial terms for its proposed subordinated debt issuance of up to ₹750 crore.

This follows the company’s earlier communication dated October 15, 2025, in which the board of directors granted in-principle approval to raise funds through subordinated debt instruments in the form of Non-convertible Debentures.

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The company stated that the issuance may be executed in one or more tranches on a private placement basis. The Capital Raising Committee will consider terms for unsecured, rated, listed, redeemable, fully paid-up, non-cumulative, subordinated, non-convertible debentures.

Second Quarter Results

HDFC Life reported a 3.2% year-on-year increase in profit after tax (PAT) for the second quarter of FY26, reaching ₹449 crore. Net premium income (NPI) rose over 13% to ₹18,871 crore from ₹16,614 crore in the same quarter last year. On a sequential basis, PAT declined 18% from ₹548 crore reported in Q1 FY26.

For the first half of FY26, the company reported PAT of ₹994 crore, up 9% year-on-year. Individual new business annualised premium equivalent (APE) increased 10% to ₹6,471 crore, contributing to the total APE of ₹7,413 crore.

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Total new business premiums, including individual and group segments, rose 12% to ₹16,222 crore, while renewal premiums increased 18% to ₹17,940 crore, resulting in total premiums of ₹34,162 crore, a 15% YoY gain.

The value of new business (VNB) for the first half of FY26 stood at ₹1,818 crore, reflecting 10% growth compared with the first half of FY25. Embedded value (EV) increased to ₹59,540 crore, with an operating return on EV of 15.8% on a rolling 12-month basis.

Shares of HDFC Life Insurance Company Ltd ended at ₹759.00, down by ₹7.70, or 1.00%, on the BSE.

Also Read: HDFC Life Q1 results: Net profit rises 14%; premium income beats estimates