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The second-largest private sector lender, HDFC Bank, would be raising up to Rs 24,000 crore in equity, its board approved on Wednesday.
If the entire amount is raised, it would be the biggest fundraising exercise by any Indian company ever. Coal India had raised Rs 22,613 crore through offer for sale in January 2015. Around that time, in February, HDFC Bank itself had raised Rs 9,840 crore through qualified institutional placement (QIP) and American Depositary Receipts (ADRs).
Of the Rs 24,000 crore approved by the board, Rs 8,500 crore would be coming from the parent, HDFC Ltd. The
If the entire amount is raised, it would be the biggest fundraising exercise by any Indian company ever. Coal India had raised Rs 22,613 crore through offer for sale in January 2015. Around that time, in February, HDFC Bank itself had raised Rs 9,840 crore through qualified institutional placement (QIP) and American Depositary Receipts (ADRs).
Of the Rs 24,000 crore approved by the board, Rs 8,500 crore would be coming from the parent, HDFC Ltd. The
