HDFC Bank plans to raise crore via bonds
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