Mumbai, Feb. 25
Housing Development Finance Corporation (HDFC), the promoter company of HDFC Bank, will have to raise Rs 3,900 crore in order to maintain its stake at 23.28 per cent post the merger of the bank with the Centurion Bank of Punjab, said Mr Deepak Parekh, Chairman, HDFC.
HDFC’s stake will come down to 19 per cent post the merger.
“We will decide on the mode of raising the money in the next fortnight or within a month’s time,” said Mr Parekh. HDFC Bank would also consider making a preferential offer to HDFC to enable it to maintain its percentage shareholding in the merged entity.
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