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HDFC Bank Edges Higher On Plans to raise Funds plans to raise funds up to Rs 50,000 crore over twelve months

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HDFC Bank board of directors will consider the proposal at its conference on April 17, 2021.

HDFC Bank shares edged higher in a weak market after the private sector bank announced plans to raise funds as much as Rs 50,000 crore over the period of twelve months.

The cash will be raised by providing perpetual financial obligation instruments (part of extra Tier I capital), Tier II capital bonds and long-term bonds through private positioning mode, the bank said in a regulatory filing to the stock exchanges.The Board of Directors will consider the proposal at its board conference scheduled on April 17, 2021.

The BSE Sensex was trading at 48,232.50, weaker by 315.55 points or 0.64 per cent and the NSE Nifty was at 14,421.35, down 82.35 points or 0.56 percent at the time.




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