HDFC Bank mops up Rs 1,405 cr from bonds

HDFC Bank on Friday said it has raised about Rs 1,405 crore from bonds to fund business growth. The bank has allotted lower tier-II bonds for an amount aggregating Rs 1,405 crore, HDFC Bank said in a filing on the BSE. The bonds in the nature of debentures were issued on a private placement basis, it said. Tier-II bonds generally have a fixed tenure and coupon rate.

Shares of the bank closed at Rs 832.55 per unit, up 0.6 percent on the BSE. HDFC Bank had raised Rs 565 crore from lower tier-II bonds in October. The bank posted a rise of 30.07 percent in its net profit at Rs 1,559.98 crore for the quarter ended September 30, 2012 as compared to Rs 1,199.35 crore for the same quarter in the previous year.

Total income increased by 24.47 per cent at Rs 9,869.77 crore for quarter under review as compared to Rs 7,929.38 crore for the quarter ended September 30, 2011.

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