HDFC Bank Informed Exchanges That The Board Of Directors Today

HDFC Bank informed exchanges that the board of directors today has approved raising of funds aggregating up to Rs.24,000 crore.

Of which, an amount up to a maximum of Rs 8,500 crore will be through issuance of equity shares of face value of Rs 2 each pursuant to a preferential issue to promoter Housing Development Finance Corporation, the bank said.

The balance will be raised through issuance of equity shares / convertible securities / depository receipts pursuant to a qualified institutions placement / American Depository Receipts / Global Depository Receipts, it added.

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