Banking Affairs HDFC Bank its board had given nod to raise Rs 24,000 crore through a preferential issue of shares to its promoter HDFC Ltd and by issuing shares and depository receipts to fund the bank's growth plans. The general meeting on February 19 to seek approval of its shareholders. "For this purpose, the board has authorized a special committee to decide terms and conditions," said the statement. According to the bank's fundraising plan, around Rs 8,500 crore worth of shares of the face value of Rs 2 each will be issued to mortgage lender and promoter HDFC Bank.
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