HDFC Bank likely to take fund raising plan from Dalal Street to Wall Street

The FII ownership in HDFC Bank is legally capped at 74 per cent and the current aggregate investment is 73.13 per cent

HDFC Bank is likely to take its fund raising plan from Dalal Street here to Wall Street.
 
Sources say the bank prefers an issue of American Depository Receipts (ADR) over Qualified Institutional Placement (QIP) for its Rs 15.5-billion ($2.2 billion) equity raising exercise. Attractive valuations and greater investor appetite is prompting the country’s highest-valued bank to go for overseas issuance.
 
However, the foreign institutional investment ceiling could force it to also do a fourth of its fund raising in the domestic market.
 
“Earlier, the bank wanted to go for a QIP. Given the ADR premium and investor