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.
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.