Private sector lender, ICICI Bank plans to raise capital and is considering multiple instruments for this. The bank informed BSE that the meeting of the Board of Directors of the Company is scheduled on July 8 to consider and approve the proposal of raising funds.
The instruments the bank considers for capital raising include private placement, preferential issue, qualified institutions placement and further public offer.
The capital raising plan is subject to shareholders' approval and regulatory and other approvals as may be required, the bank said.
Another leading private sector lender, Axis Bank said on July 2 that it was planning to raise up to Rs 15,000 crore through the issuance of various instruments.
The board of the bank has approved the proposal relating to raising of funds not exceeding Rs 15,000 crores through issue of equity shares/ depository receipts and/or any other instruments or securities, the bank said in an exchange communication.
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These instruments could represent either equity shares and/or convertible securities linked to equity shares including through Qualified Institutions Placement (QIP)/ American Depository Receipts (ADRs)/ Global Depository Receipts (GDRs) program, preferential allotment, the bank said.
HDFC Bank too announced plans to raise up to Rs 50,000 crore by the issuance of unsecured perpetual debt Instruments, Tier II Capital Bonds and Long Term Bonds in the domestic market in one or more tranches.
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