HDFC Bank said on Monday it will be raising Rs. 10,000 crore from the market over the next one year. The bank’s board has given approval to sell fresh equity shares in both domestic and foreign markets.
“The proposed issue is to be made by creating, issuing, offering in the course of one or more public or private offerings in domestic or one or more international markets, equity shares and/or equity shares through depository receipts and/or securities convertible into equity shares at the option of the Bank and/or the holders of such securities, and/or securities linked to equity shares and/or any instrument or securities representing equity shares and/or convertible securities linked to equity shares,” HDFC Bank said in a filing to BSE.
The final approval of the bank’s shareholder is needed which will be granted at the annual general meeting of the bank which is on June 25.
The issue of capital is subject to the applicable laws, SEBI regulations and approvals of Reserve Bank of India and other regulatory authorities.
The issue is proposed to be completed within a period of one year from the date of Shareholders approval.
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