HDFC Bank, India’s second largest private bank, has raised Rs 1,728 crore through a private placement of unsecured non-convertible bonds to support business growth.
The bank has raised Rs 578 crore in upper Tier II bonds and Rs 1,150 crore in lower Tier II bonds, the company informed the Bombay Stock Exchange (BSE).
The share price of HDFC Bank was up 2.57 per cent at Rs 1011.50 at 1235 hrs today as against the previous closing of Rs 986.20 on the BSE.
The bank's net profit rose 43 per cent at Rs 527 crore for the quarter ended September 30, 2008, as compared to Rs 368 crore in the same period last year.