HDFC bank skids 1.5% ahead of Rs50,000 crore fundraise plan

HDFC Bank Limited informed the investors that the Bank proposes to raise funds by issuing Perpetual Debt Instruments (part of Additional Tier I capital), Tier II Capital Bonds, and Long-Term Bonds (Financing of Infrastructure and Affordable Housing) up to a total amount of Rs50,000 crore over the period of next twelve months through private placement mode.

The Board of Directors would consider this proposal at its ensuing Board meeting to be held on April 16, 2022.

The bank will inform the exchanges further at the conclusion of the Board meeting.

HDFC Bank’s stock was trading 1.59% lower in today’s trade at Rs1,526.15 against its previous close of Rs1,550.85 on NSE. It hit the intraday high of Rs1,541.35 and intraday low of Rs1,520.60.