HDFC To Raise Rs 40 Bln Debt Fund In Next 18 Mths

HDFC has decided to lift Rs 40 billion debts in order to fund its stake purchase in HDFC Bank.

The debt will be raised within the next 18 months.

Lately, HDFC Bank declares to get CBoP in an all-stock transaction and also announce a private placement of equity to HDFC in an attempt to uphold its stake at the subsisting level of 23.3%.

On March 13, 2008, HDFC allotted 1,57,036 equity shares of Rs10 each under distinctive numbers from 283737283 to 283894318 (both numbers inclusive), pursuant to exercise of stock options under its Employee Stock Option Scheme.

Post the said allotment the paid-up equity share capital of the Corporation would stand at Rs. 283,89,43,180 consisting of 28,38,94,318 equity shares of Rs. 10 each.

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