HDFC Bank to raise up to Rs50,000 crore through private placement; Stock tumbles 2.5%

18 Apr 2022 , 09:17 AM

The Board of Directors of HDFC Bank Limited at its meeting held on April 16, 2022, has inter alia approved the issuance of 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 crores in the period of next twelve months through private placement mode, subject to the approval of the shareholders of the Bank and any other regulatory approvals as may be applicable.

On Monday at around 9:17 AM, HDFC Bank was trading at Rs1428 per piece lower by 2.52% on Sensex. Previously, the scrip ended at Rs1464.85 per piece on Sensex.

The bank on Saturday reported a 22.8 per cent jump in its standalone net profit at Rs 10,055.2 crore for the quarter ended March 2022. The country’s largest private sector lender had posted a net profit of Rs 8,186.50 crore in the corresponding fourth quarter of the previous fiscal.