HDFC Bank raises $1 billion

HDFC Bank Limited ("Issuer"), a banking company incorporated under the laws of India has raised U.S.$ 1,000,000,000 (U.S.$ One Billion) by the issue and allotment of Direct, Subordinated, Unsecured 3.70% Basel III Compliant Additional Tier I Notes ("Notes") to overseas investors in reliance on Rule 144A under the U.S. Securities Act of 1933, as amended (the "Securities Act") and outside the United States in offshore transactions as defined in and in reliance on Regulation S under the Securities Act.

The Notes will be listed on the India International Exchange (IFSC) Limited and the NSE IFSC Limited (NSE International Exchange).

Shares of HDFC Bank Ltd. was last trading in BSE at Rs. 1554 as compared to the previous close of Rs. 1556.95. The total number of shares traded during the day was 81855 in over 3644 trades.

The stock hit an intraday high of Rs. 1571 and intraday low of 1543.45. The net turnover during the day was Rs. 127699350.

Source : Equity Bulls

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