HDFC Bank trades in green on planning to raise funds up to Rs 50,000 crore

HDFC Bank is currently trading at Rs. 1676.00, up by 12.30 points or 0.74% from its previous closing of Rs. 1663.70 on the BSE.

The scrip opened at Rs. 1665.60 and has touched a high and low of Rs. 1678.95 and Rs. 1665.60 respectively. So far 52975 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1702.00 on 24-Jan-2023 and a 52 week low of Rs. 1271.75 on 17-Jun-2022.

Last one week high and low of the scrip stood at Rs. 1678.95 and Rs. 1648.10 respectively. The current market cap of the company is Rs. 935639.17 crore.

The promoters holding in the company stood at 25.60%, while Institutions and Non-Institutions held 60.39% and 14.00% respectively.

HDFC Bank is planning 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 Board meeting to be held on April 15, 2023.

HDFC Bank is one of India’s premier banks providing a wide range of financial products and services using multiple distribution channels including a pan-India network of branches, ATMs, phone banking, net banking and mobile banking.