Private sector lender HDFC Bank on Friday said it plans to raise Rs50,000 crore through bonds over one year to fund business growth.
The board has accorded approval for seeking shareholders nod at the annual general meeting (AGM) for issue of perpetual debt instruments, tier-II bonds, senior long-term infra bonds up to a total amount of Rs50,000 crore in the period of next 12 months through private placement, HDFC Bank said in a regulatory filing. The board meeting will be held on May 19 to decide about the date for the AGM.
For the fourth quarter, HDFC Bank reported a 20.2 per cent jump in March quarter net at Rs3,374.2 crore, helped by a healthy rise in core NII.