HDFC Bank plans to raise crore via bonds

The Financial Express - - MONEY & MARKETS -

New Delhi, April 29: Pri­vate sec­tor lender HDFC Bank on Fri­day said it plans to raise Rs 50,000 crore through bonds over one year to fund busi­ness growth.

The board has ac­corded its ap­proval for seek­ing share­hold­ers' nod at the an­nual gen­eral meet­ing for is­sue of per­pet­ual debt in­stru­ments, tier-II bonds and se­nior longterm in­fra bonds up to a to­tal amount of Rs 50,000 crore in the pe­riod of next 12 months through pri­vate place­ment, HDFC Bank said in a reg­u­la­tory fil­ing.

The board meet­ing will be held on May 19 to de­cide about the date for the AGM. For the fourth quar­ter, HDFC Bank re­ported a 20.2% jump in the net profit to Rs 3,374.2 crore. PTI

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