HDFC Bank gets shareholders approval for raising Rs 50,000 crore through bonds

New Delhi 19 July: Shareholders of HDFC Bank have given approval to rise up to Rs 50,000 crores through bonds to boost capital base to finance its business growth. The decision to this effect had been taken in the Annual General Meeting concluded on Saturday.

“Approval of investors has been acquired for problem of unsecured perpetual debt instruments (part of further tier I funds), tier II funding bonds and long term bonds (funding of infrastructure and affordable home ) to a private placement basis of a sum in aggregate exceeding Rs 50,000 crore,” HDFC Bank stated in a regulatory filing on Sunday.

Last month, the board cleared capital proposition to be carried out over the subsequent twelve months. Moreover, investors also removed a proposal to get re-appointment of all Kaizad Bharucha as executive director of this lender.