Government Clears HDFC Bank's Move to Raise Rs.10,000 Cr.

Published: 29th January 2015 09:55 AM  |   Last Updated: 29th January 2015 09:55 AM   |  A+A-


NEW DELHI: The government Wednesday approved HDFC Bank's proposal to raise Rs.10,000 crore from foreign investors.

The Cabinet Committee on Economic Affairs (CCEA) gave its approval to the bank's proposal at its meeting held here.

"The CCEA gave its approval to the proposal of HDFC Bank for issuance of equity shares aggregating to an amount of Rs.10,000 crore to NRIs/FIIs/FPIs (non-resident Indians, foreign institutional investors or foreign portfolio investors)," the CCEA said in a statement.

According to the statement, the approval is subject to aggregate foreign shareholding not exceeding 74 percent of the post-issue paid-up capital. 

"The approval would result in foreign investment of Rs.10,000 crore in the country," the statement added. 

In December, the Foreign Investment Promotion Board (FIPB) cleared the HDFC Bank’s proposal to raise the capital from foreign investors.

Stay up to date on all the latest Business news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on are those of the comment writers alone. They do not represent the views or opinions of or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp