Home ECONOMY HDFC Bank silent on raising Rs.10,000 crore

HDFC Bank silent on raising Rs.10,000 crore

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Chennai, Feb 5:

Private lender HDFC Bank Thursday remained silent on reports it has raised over Rs.9,880 crore through its qualified institutional placement (QIP) and American Depository Receipts (ADR) that opened late Wednesday.

HDFC-BankAccording to reports Thursday, HDFC Bank has raised Rs.9,880 crore through a mix of QIP and ADR issue.

Contacted for confirmation, the bank spokesperson told IANS: “We have nothing to say now. We stick to our filings with the stock exchange.”

The bank informed the stock exchanges Thursday that the floor price of per equity share for the QIP and ADRs has been fixed at Rs.1,061.84.

The relevant date for both the issues has been fixed at Feb 4.

As per the resolution passed by the special committee of the bank’s board of directors, the bank was authorised to raise capital not exceeding Rs.2,000 crore from QIP and Rs.8,500 crore from ADR.

Each ADR represents three equity shares. IANS

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