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HDFC Bank Issues Rs 385 Crore Equity Shares Under ESOPs

HDFC Bank board convened a meeting on Wednesday and decided to raise Rs 24,000 crore. Following the announcement, the bank's shares touched the 52-week high of Rs 1,903 on December 20.

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HDFC Bank Issues Rs 385 Crore Equity Shares Under ESOPs

HDFC Bank issues ESOPs

HDFC Bank issues 20,59,500 equity shares to the employees of the bank pursuant to exercise of options under its employees stock option. Following this, the paid up share capital will increase from Rs 517 crore equity shares to Rs 518 crore equity shares of Rs 2 each, the company announced in a stock market filing. The HDFC Bank's shares are priced at Rs 1,869.55 at 12.30 pm on BSE. At this price, the ESOPs are valued for Rs 385 crore.

On Thursday, the shares opened at Rs 1,871 while the scrip traded between Rs 1,884 and Rs 1,869, against the previous session's closing of Rs 1,868. On Wednesday, HDFC Bank board had convened a meeting and decided to raise Rs 24,000 crore. Following the announcement, the bank's shares touched the 52-week high of Rs 1,903 on December 20.

It is noteworthy to mention that in the month of October, HDFC Bank had issued Rs 370 crore worth equity bonanza to its employees through ESOPs.

On NSE, the bank shares opened at Rs 1879.9 before touching a high of Rs 1,885 and a low of Rs 1,869. At 12.50, the scrip was trading at Rs 1,869.95, 0.10% higher than the previous session's closing.

HDFC Bank's second quarter results announced recently met the market's estimates. The bank registered 15% rise in interest income to Rs19,670 crore in the September quarter.

A 9% rise in interest expenses to Rs. 9,918.21 crore saw net interest income grow 22% to Rs.9,752 crore. Other income grew 24% to Rs. 3,605.90 crore, which took net total income up 23% to Rs. 13,357.97 crore.

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