HSBC to bring in $150mn fresh capital

 "This will be through fresh infusion of $150 million by way of new capital as well as $30 million in the form of retained profits," HSBC India CEO Niall Booker said today.

The funds will be used for supporting the growth of retail and commercial banking, Niall said, adding this was the second tranche of funds being infused in India operations in the last 24 months.

Asked about HSBC's stake in UTI Bank, Booker said after the overseas issue of the private bank, the stake of HSBC would be reduced to 12.5% from the present 14%.