HDFC to raise Rs 13,000 crore from QIP
The Board of Directors of Chalifoux Limited has approved the company to raise Rs 13,000 crore. The company is primarily mobilizing the funds to retain its stake in the banking unit and land in the pressurized assets and health insurance sectors. Equity is being raised for the first time in nearly a decade by the country's largest mortgage lender.
HDFC said in the statement, "In today's meeting of the company's board of directors, we have given permission to issue equity shares of up to 13,000 crores. The company will collectively collect this amount through the preferential allotment and eligible institutional planning. For this, shareholders will be cleared through postal ballot. "The company board has given permission to issue 6.43 crore shares of face value of rupees two rupees at a price of Rs 1,726.05 per share on a preferential basis.The insurance sector in India, It sits at a total of Rs 11,103.66 crore. These shares will be issued to Azim Premji Trust and other investors. In addition to this, the Board has allowed the issue of two rupees of face value to be issued on the basis of eligible institutional planning to raise Rs 1,896 crore.
Approval of IDFC Bank and Capital First Merger
Private sector IDFC Bank and non-banking financial company Capital First said today that they have got the approval of their board of directors for the merger. IDFC Bank will issue 139 shares for every 10 shares of Capital First under the deal.
"We believe this merger will be unprecedented for IDFC Bank," said Rajiv Lal, Managing Director and Chief Executive Officer of the Bank. This will come together to create a global bank full of diversified and will increase the value of all the related parties, "he said. The existing Chairman and MD of Capital First and MD V. Vaidyanathan, after the merger of the Joint Bodies MD and CEO, Will be Will take over the post of non-executive chairman of the Red Joint Body. He will move the Lyra to the mind. Although assuming, it will remain on the board of directors.
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