HDFC Bank Ltd, the world’s most expensive major lender, is considering relying entirely on the Indian market for a share sale that could raise as much as Rs 155 billion ($2.3 billion), people with knowledge of the matter said.
The Mumbai-based bank is weighing seeking all the capital through a qualified institutional placement in India, rather than its usual practice of splitting the fundraising between an offering of local stock and a sale of American depositary receipts, according to the people. HDFC Bank aims to start taking investor orders within the next couple of weeks, the people said, asking not to