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HDFC Bank to raise up to Rs 24,000 cr from share sale

Shareholders will be asked to vote on the plan on January 19, the lender said

Reuters  |  Mumbai 

HDFC Bank Ltd, India's second-biggest lender by assets, said on Wednesday it would raise up to Rs 24,000 crore ($3.75 billion) to fund growth by selling shares to investors, including a preferential issue to its parent HDFC Ltd. HDFC Bank, the most valuable in the sector with a market capitalisation of more than $76 billion, said in a statement its board had approved the fundraising plan on Wednesday. Shareholders will be asked to vote on the plan on January 19, the lender added. As part of the planned fundraising, HDFC Bank will issue up to Rs 8,500 crore worth of shares to ...

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First Published: Wed, December 20 2017. 13:25 IST
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