HDFC Bank plans to raise Rs 15,500 cr; fixes floor price for QIP
The issue price for QIP was Rs 1,067 per share. The bank used proceeds for enhancing solvency and capital adequacy ratio and general corporate purposes.
The fund will be raised through qualified institutional placement (QIP) and American Depository Receipts (ADRs).
As per the US Securities and Exchange Commission filing, the company has raised USD 1,270.72 million (about Rs 8,000 crore) by issuing 22 million ADS to the global investors.
Besides, the bank has raised about Rs 2,000 crore through QIP route in domestic market.
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