HDFC Bank to raise Rs 50K crore in 12 months

HDFC Bank — which has proposed a merger with its parent HDFC Ltd — is planning to raise Rs 50,000 crore in the next 12 months.

“The bank proposes to raise funds by issuing perpetual debt Instruments (part of Additional Tier I capital), Tier II capital bonds and long-term bonds (financing of infrastructure and affordable housing) up to total amount of Rs 50,000 crore over the period of next 12 months through the private placement mode,” the private sector lender said in an exchange filing.

“The board of directors would consider this proposal at its ensuing meeting to be held on April 16, 2022,” it said.

The bank’s shares fell by 3.51 per cent to Rs 1,550.80 on Wednesday.

As on March 31, 2021, the bank’s subordinated and perpetual debt capital instruments amounted to Rs 9,127 crore (previous year: Rs 10,232 crore) and Rs 8,000 crore (previous year: Rs 8,000 crore) respectively, according to the bank’s Annual Report for 2021.

Source link

The Press Walla

The Press Walla is the India's fastest growing youth online magazine which covers all latest trending stories from entrepreneurship, business, entertainment etc

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button