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HDFC Bank’s board will consider a proposal for raising of funds, in a meeting on Wednesday, December 20,2017.
In a regulatory filing HDFC Bank stated that, a meeting of the board of directors will be held on December 20,2017 to consider a proposal for raising of funds by issue of equity shares/ depository receipts and other securities including qualified institutional placement (QIP)/ American Depository Receipts (ADRs) program, preferential allotment or such other methods or combinations as may be decided, as well as a preferential issue to Housing Development Finance Corporation (HDFC), the promoter of the bank.
Further it stated that, the raising of funds will be subject to regulatory/statutory approvals as may be required, including approval of shareholders of the Bank, if required.
