MUMBAI (Reuters) - India's foreign investment regulator has approved raising the foreign holding limit in second-biggest private sector lender HDFC Bank Ltd but counts its parent's holding as foreign, the Business Standard newspaper reported on Saturday.
Counting the 22.50 percent stake owned by mortgage lender Housing Development Finance Corp and two of its units in HDFC Bank would limit capacity for any further foreign fund raising by the bank, the report said, citing an unidentified government official.
An HDFC Bank spokesman was not immediately available for comment.
HDFC Bank said it May it has plans to raise as much as 100 billion rupees by selling shares.
HDFC Ltd is an Indian mortgage lender but is 77.85 percent owned by foreigners, according to stock exchange data.
(Reporting by Abhishek Vishnoi and Devidutta Tripathy; Editing by Paul Tait)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app