Last week, HDFC Bank’s board had approved a proposal to raise up to Rs 50,000 crore in the next twelve months by issuing various debt securities. The public offer is expected to raise a little over Rs 3,000 crore, market sources said. ICICI stake saleWhile announcing its results for 2019-20 on May 9, ICICI Bank had said it would look at strengthening its balance sheet as opportunities arise. “The bank has today divested 2,15,00,000 equity shares of face value of Rs 10 each of ICICI Prudential Life Insurance Company,” ICICI Bank said in a regulatory filing. Following this, the bank's shareholding in ICICI Prudential Life stands at approximately 51.4 per cent, it added.

Source: The Telegraph June 22, 2020 21:45 UTC