|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||1,871.00 - 1,887.00|
|52 Week Range||1,832.95 - 2,014.00|
|PE Ratio (TTM)||31.88|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
HDFC Bank Ltd, India's second-biggest lender by assets, said on Wednesday it would raise up to 240 billion rupees ($3.75 billion) to fund growth by selling shares to investors, including a preferential issue to its parent HDFC Ltd. HDFC Bank, the most valuable in the sector with a market capitalisation of more than $76 billion, said in a statement its board had approved the fundraising plan on Wednesday. As part of the planned fundraising, HDFC Bank will issue up to 85 billion rupees worth of shares to mortgage lender HDFC Ltd on a preferential basis, while the remainder will be raised via modes including American Depositary Receipts and a share sale in India to institutional investors.
Indian mortgage lender Housing Development Finance Corp Ltd said on Tuesday it would raise as much as 130 billion rupees ($2.03 billion) by selling shares or convertible bonds mainly to maintain its stake in HDFC Bank. HDFC, the parent of HDFC Bank and whose main business is home loans for retail customers, will seek to subscribe to a potential preferential share issue by HDFC Bank so that its holding in the bank remains at about 21 percent.
HDFC Bank Ltd, India's second-biggest lender by assets, made a record quarterly profit from higher interest and fee income and said retail and wholesale lending was growing. The Mumbai-based bank, which was recently added to the central bank's list of lenders it considers "too big to fail", posted a net profit of 41.51 billion rupees ($634 million) for its second quarter to Sept. 30, up 20 percent from a year ago, and in line with analysts' estimates of 41.61 billion rupees. With its focus on retail clients and relatively smaller exposure to segments such as infrastructure financing, HDFC Bank has the lowest bad loan ratio among top Indian lenders.