India’s HDFC Bank considers issuing convertible securities

By Wendy Van Sickle

Columbus, Ohio, July 26 – HDFC Bank Ltd. is considering issuing convertible securities, according to a Bombay Stock Exchange notice.

The bank is also considering issuing equity shares and/or depository receipts. Such an issuance was approved by the board of directors on Dec. 20, 2017 and by shareholders on Jan. 19, 2018.

If the board or a committee of the board decides to open an issue of securities, a meeting of a committee will be held on July 31 to consider and approve the issue price.

The bank is based in Mumbai.

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