HDFC Bank on Wednesday told stock exchanges that the Board would consider the proposal to raise up to ₹ 50,000 crore for the next 12 months, along with approving financial results.
The HDFC Board Bank is scheduled to meet on April 16 to consider and approve financial results for the quarter of March 2, 2021-22.
“The bank proposes to raise funds by issuing eternal debt instruments (part of the additional Tier I Capital), Tier II capital bonds and long-term bonds (affordable infrastructure and housing financing) up to total number of Rs. 50,000 crores for the next twelve months period Through personal placement mode, “said HDFC Bank in archiving.
On Wednesday, HDFC bank shares closed almost 4% lower on ₹ 1,550 each at NSE.
The proposal came only a few days after announcing the Mega merger with his parent HDFC Ltd. in an agreement all stocks.
HDFC twin shares witnessed heavy sales pressure over the past two days in the midst of ordering profits in a higher assessment, and ended as a loser on both the benchmark index.
After an effective agreement, the HDFC Bank will be fully owned by public shareholders, and existing HDFC shareholders will have 41% of the bank.
The merger will create an entity with a combined balance sheet worth $ 237 billion and will include target insurance and other financial subsidiaries.
The proposed entity will have a combined asset base around ₹ 18 lakh crore. Mergers are expected to be completed in the second or third quarter of TA24, subject to regulatory approval.
If it cleanses the obstacles to the agreement, the HDFC Bank will reduce the size of the gap with the country managed lenders and rival the state of the state of India, and attract further from colleagues such as Bank ICICI and AXIS Bank.
The post HDFC Bank to consider raising up to ₹ 50,000 CR through obligations first appeared on Businessely.com.
