HDFC, Yes all clear for jumbo capital raising

By Jonathan Breen
14 Jun 2018

India’s HDFC Bank and Yes Bank won approval this week to go ahead with their billion-dollar fundraising plans. A number of methods are on the table, including qualified institutional placements (QIPs).

India’s cabinet, which comprises the most senior government ministers, passed HDFC’s plan to raise Rp240bn ($3.5bn).

Up to Rp85bn will be covered by a preferential issue of shares to Housing Development Finance Corp, leaving Rp155bn to be raised through a QIP or an issue of American Depository Receipts ...

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