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HDFC Bank shares soar on Rs 10,500 crore fund-raising

Had fixed a floor price of Rs 1,061.84 for the twin sale -- to raise up to Rs 2,000 crore through a qualified institutional placement here, and further up to Rs 8,500 crore from the US, where its ADRs are listed on the NYSE.

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Shares of HDFC Bank rose on Thursday, a day after the lender hit the US and Indian markets to raise up to Rs 10,500 crore through issuance of equity shares and ADRs.

The stock was up 1.1% in late morning trade at Rs 1,079 a piece at the BSE.

The country's most valuable bank had fixed a floor price of Rs 1,061.84 for the twin sale -- to raise up to Rs 2,000 crore through a qualified institutional placement here, and further up to Rs 8,500 crore from the US, where its ADRs are listed on the NYSE.

Also Read: HDFC Bank likely to raise Rs 10,000 crore this month

The stock hit an intra-day high of Rs 1,092 earlier in the opening trade.
Shares of its parent HDFC Ltd also rose 2% to Rs 1,257.75 at the BSE.

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