HDFC Bank to raise Rs 10,000 cr via fresh share issue

Experts believe that bank's decision to raise fresh capital augurs well for bank as it is in growth phase right now

HDFC Bank, the country’s second largest private sector lender, said on Monday it will be raising Rs 10,000 crore from the market over the next one year. The bank’s board has given approval to sell fresh equity shares in both domestic and foreign markets. In a notice sent to the BSE, the bank said, “The proposed issue is to be made by creating, issuing, offering in the course of one or more public or private offerings in domestic or one or more international markets, equity shares and/or equity shares through depository receipts and/or securities convertible into equity ...