HDFC Bank surges on planning to raise capital through bonds

HDFC Bank is currently trading at Rs. 1529.50, up by 4.40 points or 0.29% from its previous closing of Rs. 1525.10 on the BSE.

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The scrip opened at Rs. 1525.10 and has touched a high and low of Rs. 1535.00 and Rs. 1521.60 respectively. So far 77297 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 1650.00 on 24-Feb-2021 and a 52 week low of Rs. 1020.50 on 17-Aug-2020.

Last one week high and low of the scrip stood at Rs. 1535.00 and Rs. 1480.00 respectively. The current market cap of the company is Rs. 847797.30 crore.

The promoters holding in the company stood at 25.89%, while Institutions and Non-Institutions held 60.85% and 13.10% respectively.

HDFC Bank is planning to raise capital by additional tier- I (AT1) bonds in the overseas market to fund its business growth. The bank is expected to raise up to $1 billion from these dollar-denominated bonds. The bank proposes 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 a total amount of Rs 50,000 crore over the period of the next 12 months through the private placement mode.

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.

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