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India's HDFC Bank shares rise after $1.6 bln share sale
February 5, 2015 / 3:52 AM / 3 years ago

India's HDFC Bank shares rise after $1.6 bln share sale

MUMBAI, Feb 5 (Reuters) - Shares of HDFC Bank Ltd, India’s largest lender by market value, rose 2.2 percent on Thursday, a day after launching a share offer in the United States and India to raise up to $1.6 billion.

Indian lenders are seeking to raise new equity capital to meet global banking rules and also build a buffer for an expected acceleration in credit growth.

The qualified institutional placement has been subscribed multiple times, bankers and funds that participated in the issue said. (Reporting by Abhishek Vishnoi; Editing by Subhranshu Sahu)

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