HDFC Bank Hits 52-Week High Of Rs. 1887.45 Ahead Of Board Meet To Raise Funds

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Ahead of the private sector lender's meet to discuss on fund raising plans, HDFC Bank shares in trade today hit 52-week high of Rs. 1887.45 on the BSE, higher by 2.7% against last closing price of Rs. 1837.2. On the NSE, the stock made a 52-week high of Rs. 1888.

HDFC Bank Hits 52-Week High Of Rs. 1887.45 Ahead Of Board Meet To Raise Funds

The bank informed exchanges that a meeting to discuss on fund raising plans is scheduled on December 20. In it the bank will mull over fund raising via issuance of equity, ADR or American Depository Receipts, depository receipts, preferential allotment or through QIP or qualified institutional placement or such other combinations or ways.
Preferential issue to the promoter of the bank, Housing Development Finance Corporation (HDFC) shall also be discussed by the board.

On approval by the board, if required, the board can also convene an extra-ordinary general meeting for receiving shareholder's approval. So, for designated employees as well as connected individuals, trading in the scrip of the bank shall remain closed from December 15 to December 22.

At 1:44 pm, the stock was trading at Rs. 1875.40 up by 2.08% on the BSE.

Read more about: hdfc bank, fund raising, qip, equity, adr
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