Business Today
Loading...

HDFC Bank plans to raise up to Rs 50,000 crore

The fundraise would be done in one or more tranches, HDFC Bank also said in its annual general meeting (AGM) notice

twitter-logoBusinessToday.In | June 29, 2020 | Updated 18:43 IST
HDFC Bank plans to raise up to Rs 50,000 crore
HDFC Bank

HDFC Bank on Monday said that it plans to raise up to Rs 50,000 crore via unsecured perpetual debt instruments, Tier II Capital Bonds and Long Term Bonds in the domestic market. The fundraise would be done in one or more tranches, HDFC Bank also said in its annual general meeting (AGM) notice.

The bank will consider "to Issue Unsecured Perpetual Debt Instruments (part of Additional Tier I capital), Tier II Capital Bonds and Long Term Bonds (financing of infrastructure and affordable housing) on a private placement basis and in this regard to consider and, if thought fit, to pass the following resolution, as a special resolution."

The 26th AGM of HDFC Bank will be held on July 18 at 2 pm via videoconferencing. Shares of HDFC Bank closed the trade at Rs 1,076.40, up 20.80 points or 1.97 per cent on NSE.

The agenda includes the consideration of audited financial statements (standalone and consolidated) of the Bank for the financial year ended March 31, 2020 and the reports of the board of directors and auditors thereon. It also includes the appointment of Renu Karnad as a non-executive director and reappointment of Kaizad Bharucha as an executive director.

Meanwhile, HDFC Bank earlier today dismissed reports that it plans to raise Rs 13,000 crore via qualified institutional placement (QIP) plus issuance of American Depository Receipts (ADRs). The reports are "purely baseless and speculative", the country's largest private sector lender clarified in an exchange filing.

"As a policy, the Bank does not comment on speculation/ rumours circulating in the market/ print/ online media. The Bank has complied with and continues to comply with the relevant disclosure norms under the Regulations," HDFC Bank also said.

Also read: H-1B visa ban: Infosys hiring Americans to negate work visa freeze, says CEO Salil Parekh

Also read: Coronavirus crisis: Supreme Court refuses to cancel remaining Rajasthan Class 10 exams

Youtube
  • Print

  • COMMENT
BT-Story-Page-B.gif
A    A   A
close