HDFC Bank proposes to raise Rs 50,000 crore via perpetual debt instruments
The Board of Directors of HDFC Bank would consider the proposal at its ensuing board meeting to be held on April 17, 2021.
April 14, 2021 / 10:00 PM IST
The HDFC Bank has proposed to raise Rs 50,000 crore through perpetual debt instruments, the leading private lender said in a regulatory filing on April 14.
The amount, as per the proposal, would be raised over the next 12 months "via perpetual debt instruments (part of additional tier I capital), tier II capital bonds and long term Bonds (financing of infrastructure and affordable housing)," the bank stated in the BSE filing.
The Board of Directors would consider the proposal at its ensuing board meeting to be held on April 17, 2021.
"The Bank shall appropriately inform the exchanges after the conclusion of the board meeting," the lender further noted.
The HDFC Bank board had, in June 2020, approved the proposal to raise up to Rs 50,000 crore in the next twelve months by issuing various debt securities.
Notably, HDFC is one of the largest private sector banks in India and had registered nearly 14 per cent growth by end of March 2021.
"The bank's advances aggregated to approximately Rs 11.32 lakh crore as of March 31, 2021, a growth of around 13.9 per cent over Rs 9.93 lakh crore as of March 31, 2020, and a growth of around 4.6 per cent over Rs 10.82 lakh crore as of December 31, 2020," the bank had stated in a regulatory filing on April 5.