HDFC Bank shares end higher on fund-raising

Shares of HDFC Bank closed with nearly 1 per cent gains after the company raised Rs 9,880 crore in the largest share sale in the secondary market by a private entity to overseas and domestic investors through a mix of qualified institutional placement and ADRs.
HDFC Bank's scrip settled at Rs 1,077.25, a gain of 0.94 per cent, on the BSE. During the day, it had climbed 2.13 per cent to Rs 1,092.
At the NSE, the stock was up 0.72 per cent to Rs 1,075.40 at the end of trading session.
Shares of its parent HDFC Ltd also rose by 1.28 per cent to Rs 1,248.90 at the BSE.

Merchant bankers said the issue has been successfully closed and the final pricing is expected shortly.
According to merchant bankers which include Barclays, JM Financial, Citi, JP Morgan and BofA-ML among others, said the bank opened the QIP issue first and the ADR was launched a few hours later.
The bank has plans to raise Rs 2,400 crore from QIP and the rest from ADRs, but sources said the composition got changed after the sale began.
Parent HDFC holds 22.47 per cent in the bank, FIIs 33.75 per cent, ADRs/GDRs 16.84 per cent and the rest is held by others, as of the September quarter.