HDFC Bank has mandated Merrill Lynch for its proposed $175 million American depository shares (ADS) issue, which is likely to hit the market in the next two-three months.
According to sources, the other co-arranger for the issue is Bank of America. However, this could not be confirmed. Sources added that the bank has also gone in for a silent filing of prospectus for its ADS.
A prospective issuer of ADS opts for
