HDFC Bank board to mull fund raising on April 16

7 Apr 2022 , 09:20 AM

In a regulatory filing made after trading hours yesterday, the bank announced a proposal 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 total amount of Rs 50,000 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 16 April 2022.

On the same day, the board will also consider and approve the audited financial results for the last quarter and year ending 31 March 2022 along with the consolidated accounts for the year ending 31 March 2022.

HDFC Bank is one of Indias leading private bank. As of 31 March 2022, the bank added 563 branches during the current quarter, bringing the branch network to 6,342 branches as against 5,779 branches as at 31 December 2021 and 5,608 branches as at 31 March 2021.

The private sector banks net profit rose 18.08% to Rs 10,342.20 crore on 8.33% increase in total income to Rs 40,651.60 crore in Q3 December 2021 over Q3 December 2020.

The scrip fell 1.58% to currently trade at Rs 1526.25 on the BSE.

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