HDFC Bank to consider fund raising plans


HDFC Bank announced that a meeting of the Board of Directors of the Bank will be held on 20th December, 2017 to consider a proposal for raising of funds by issue of equity shares/ depository receipts and other securities including through Qualified Institutions Placement (QIP)/ American Depository Receipts (ADRs) program, preferential allotment or such other methods or combinations as may be decided, as well as a preferential issue to Housing Development Finance Corporation Limited (the Promoter), subject to such regulatory/ statutory approvals as may be required, including approval of shareholders of the Bank, if required.

The Board, if required, would further consider convening an Extra-Ordinary General Meeting to obtain approval of the shareholders for the above proposal, if the same is approved by the Board.

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Yash Ved
Yash Ved is a Senior Correspondent at NewsBarons and comes with a decade of experience across leading online and offline publications. A keen observer of the stock index movement, Yash also likes covering Real Estate and the BFSI sector. A financial management and Journalism student, Yash believes learning as a continuous journey and enjoys following the IT and the Pharmaceutical industry and has penned many articles on the subjects.