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HDFC to Raise Rs. 50,000 Cr Within a Year
April 12, 2017
In a recent regulatory filing HDFC bank said that it plans to raise Rs. 50,000 within next 12 months by issuing debt instruments. The funds will be raised by issuing senior long-term infrastructure bonds, perpetual debt instruments (which are a part of additional tier I capital) and tier II capital bonds, all of which will amount to Rs. 50,000 collectively.
Since perpetual bonds don’t expire, they can also be considered as equity rather than a debt. Surprisingly, the bank didn’t disclose its intention behind the funds raising. At any rate, the proposal is yet to be approved by the board of directors, the meeting of which will be held on April 21.
