HDFC Bank board approves plan to raise Rs 50,000 cr via debt securities

New Delhi, Jun 20 () HDFC Bank on Saturday said its board has approved proposal to raise up to Rs 50,000 crore in the next twelve months by issuing various debt securities. The decision was taken at the board of directors meeting held on June 20, 2020, HDFC Bank said in a regulatory filing.

“The Board of Directors has approved the issue 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 Rs 50,000 crore,” HDFC Bank said.

The largest bank in the private sector said that it will raise the capital through in the period of next twelve months through private placement mode, subject to the approval of the shareholders at the ensuing annual general meeting (AGM) and any other regulatory approvals.

The bank’s 26th AGM will be held on July 18, 2020 through video-conferencing /other audio-visual means, it said.

Source: ET Markets

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