HDFC Bank has plans to raise around Rs 4200 crore via placing 1.35 crore shares with promoter group at Rs 1023.49/ share and Overseas/ domestic follow-on issue.
Few key points:
* To raise RS 4200 crore
* To place 1.35 cr shares with promoter group at Rs 1023.49/ share to maintain their stake at around 23% levels; (To raise Rs 1390.1 cr)
* To raise remaining stake via Overseas/ domestic follow-on issue
* Equity dilution of 11.13%
* Promoter stake to increase to 22.9% post pref issue from 21.6% currently
* Overseas/Domestic Issue size: $660.45 m
* Has enough head room to go for a $ 660.45 m Secondary ADS Issue
FY08 Earning Valuations:
* Net Interest Income; Rs 4487 cr
* Net Profit: Rs 1475 cr
* Fully Diluted FY08E EPS: Rs 41
* FY08 PE: 25.6x
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