Advertisement
trendingNowenglish2068267https://zeenews.india.com/companies/hdfc-bank-to-raise-up-to-rs-24000-crore-2068267.html

HDFC Bank to raise up to Rs 24,000 crore

HDFC Bank will seek approval of its shareholders in an extraordinary general meeting of the bank on January 19, 2018.

HDFC Bank to raise up to Rs 24,000 crore

New Delhi: Private lender HDFC Bank on Wednesday said its board has approved raising up to Rs 24,000 crore through a preferential issue of shares to promoter HDFC and issuance of shares and depository receipts.

"The board of directors of the bank, at their meeting held on 20th December, 2017, has approved raising of funds aggregating up to Rs 24,000 crore," HDFC Bank said in a BSE filing.

An amount of up to Rs 8,500 crore, HDFC Bank said, will be raised through issuance of equity shares... Pursuant to a preferential issue to Housing Development Finance Corporation (HDFC).

The balance amount will be raised through issuance of shares, convertible securities, depository receipts pursuant to a qualified institutional placement (QIP)/American Depository Receipts (ADR)/Global Depository Receipts (GDR).

HDFC Bank will seek approval of its shareholders in an extraordinary general meeting of the bank on January 19, 2018.

The stock of HDFC Bank was up 0.53 percent at Rs 1,895.15 on the BSE today.

Stay informed on all the latest news, real-time breaking news updates, and follow all the important headlines in india news and world News on Zee News.

NEWS ON ONE CLICK