HDFC Bank shares rise after $1.6 billion share sale

MUMBAI (Reuters) - Shares of HDFC Bank Ltd, India's largest lender by market value, rose 2.2 percent on Thursday, a day after launching a share offer in the United States and India to raise up to $1.6 billion.

Indian lenders are seeking to raise new equity capital to meet global banking rules and also build a buffer for an expected acceleration in credit growth.

The qualified institutional placement has been subscribed multiple times, bankers and funds that participated in the issue said.

(Reporting by Abhishek Vishnoi; Editing by Subhranshu Sahu)