New Delhi, April 21 -- Housing & Urban Development Corporation (HUDCO) shares jumped after the Ministry of Finance's tax wing, Central Board of Direct Taxes (CBDT) approved the Rs.5,000 crore fundraiser through Zero Coupon Bonds, according to the BSE filing on Monday, April 21.

According to the filing data, CBDT approved the Rs.5,000 crore fundraising move and permitted HUDCO to issue five lakh Zero Coupon Bonds with a tenure of ten years and one month. The company will be liable to pay Rs.5,000 at maturity after completing the debt instrument's time period.

Zero-Coupon Bonds are debt instruments that do not pay a periodic interest or coupon rate like other bonds. These bonds are sold at a discount to their face value.

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