HDFC Bank raises Rs 3,000 crore via private placement of bonds

HDFC Bank, the private sector lender, has raised Rs 3,000 crore by issuing long term non-convertible bonds through private placement.

"Bank has issued and allotted on a private placement basis senior, unsecured, redeemable, long term, non-convertible bonds in the nature of debentures for Rs 3,000 crore," HDFC Bank said in a Bombay Stock Exchange (BSE) filing on Wednesday.

However, the private sector lender did not provide details on the need to issue such bonds and where the proceeds will be used.

HDFC Bank stocks closed 11.00 points (or 1.08 per cent) higher at Rs 1022.85 apiece on the BSE.

On the National Stock Exchange, the scrip closed at Rs 1,033.90 per share, with a gain of 11.20 points (or 1.10 per cent).