HDFC to raise Rs.4,000 crore via private placement

October 12th, 2009 MUMBAI - HDFC Bank, the country's second largest private lender, has posted a 24.27 percent increase in net profit at Rs.663.9 crore for the quarter ended Sep 30 as compared to Rs.534.23 crore it logged in the like period last year. The bank's total income stood at Rs.2,850.2 crore in the second quarter, up by 8.7 percent from Rs.2,620.5 crore in year-ago period.

September 4th, 2009 KOLKATA - The state-owned India Infrastructure Finance Co Ltd (IIFCL) will raise Rs.3,000 crore from the domestic market by issuing bonds by March, a top company official said here Friday. "We have already raised Rs.1,000 crore and we intend to raise another Rs.3,000 crore by March 2010," said company chairman and managing director S.S.

August 18th, 2009 MUMBAI - Direct-to-home (DTH) major DishTV Tuesday said it will raise up to $200 million (Rs.1,000 crore) through issue of securities in the domestic and international markets. The company's shareholders approved in the annual general meeting the issuance of securities, including foreign currency convertible bonds (FCCBs), global depository receipts (GDRs) and private placement of shares to institutional investors for raising an aggregate amount of $200 million, Dish TV said in a regulatory statement.

August 5th, 2009 NEW DELHI - Private carrier Kingfisher Airlines has reported a net loss of Rs.1,608.09 crore ($338.5 million) for 2008-09, but said it has plans to raise Rs.500 crore from the equity market. The airline's expenses on employees cost stood at Rs.823.85 crore last fiscal, while expenses on aviation fuel and aircraft lease rental were respectively at Rs.2,602 crore and Rs.1,185.13 crore, Kingfisher said in a regulatory statement Wednesday.

July 22nd, 2009 MUMBAI - Housing Development Finance Corp (HDFC) has seen its net profit for the quarter ended June 30 increase over 20 percent to Rs.565 crore, as compared to Rs.468 crore in the corresponding period last fiscal. The company's total income increased 22.8 percent to Rs.2,849 crore from Rs.2,318 crore, it said in a regulatory statement.

July 14th, 2009 MUMBAI - The country's second largest private lender HDFC Bank Tuesday said its net profit increased by about 31 percent to Rs.606 crore (Rs.6.06 billion/$123.4 million) in the first quarter this fiscal, compared to Rs.464.35 crore in the year-ago period. The bank's net income for the period under review grew 21.86 percent to Rs.5,136.75 crore from Rs.4,215.15 crore.

July 7th, 2009 KOLKATA - State-owned Bank of Maharashtra is planning to raise Rs.1,500 crore in three years, a top bank official said here Tuesday. "We have a plan to raise Rs.500 crore every year (starting from this fiscal) for three years via follow-on public offer, qualified institutional placement or issue perpetual preference shares," bank chairman and managing director Allen C.A.

July 2nd, 2009 KOLKATA - State-owned West Bengal State Electricity Distribution Company Limited (WBSEDCL) is planning to raise Rs.5,000 crore in the next three years to fund rural and urban electrification, a top company official said here Thursday. "Around Rs.3,000 crore will be invested for rural electrification, Rs.1,000 crore for enhancement of urban facilities and another Rs.1,000 crore for customer service automation," Malay K.

June 16th, 2009 MUSCAT - Oman's biggest lender BankMuscat Tuesday said it will sell its remaining holding in HDFC Bank within a month. BankMuscat, which held 9,051,724 equity shares or 2.13 percent in India's second largest private lender till Dec 31, 2008, had disposed of about 81 percent of its stake till March 22.

June 15th, 2009 NEW DELHI - Taking a cue from the other realty companies like Unitech and DLF, Ansal Properties and Infrastructure, part of the Ansal API group, will raise up to Rs.1,500 crore by way of qualified institutional placement (QIP), the company said Monday. "The board of directors at its meeting held on Monday has decided to seek the approval of shareholders to issue equity shares, to resident and non-resident qualified institutional buyers by way of QIP for raising a sum of up to Rs.1,500 crore," the company said in a statement.

June 11th, 2009 CHENNAI - City Union Bank, an old generation private lender based in Tamil Nadu, Thursday said it will raise Rs.250 crore over the next two years to fund its expansion plans. "Our target is to have a net worth of Rs.1,000 crore in two years time.

June 9th, 2009 MUMBAI - In yet another attempt to raise money, the board of directors of realty major Omaxe has decided to increase the limit of holding by foreign institutional investors (FIIs) from 24 percent to 100 percent, the company announced Tuesday. "The board has approved to increase the limits of holding by the registered FIIs to up to 100 percent," Omaxe said in a regulatory statement.

June 1st, 2009 NEW DELHI - Realty major Parsvnath Developers Monday said it had received approval for its luxury housing project at Civil Lines in Delhi and was expecting a return of Rs.1,300 crore from the project in three years. Parsvnath Landmark Developers, a subsidiary of Parsvnath Developers, has received all approvals to start construction of the project, comprising 453 units with a built-up area of 20 lakh square feet, the company said in a statement.

May 25th, 2009 NEW DELHI - Taking cue from the other realty majors, the board of real estate firm Parsvnath Developers Monday approved a proposal to raise up to Rs.2,500 crore (Rs.25 billion/$529 million) through qualified institutional placement (QIP). "The board has decided to raise funds by various means, including through issuance of further securities to persons other than the existing equity shareholders of the company and also by way of QIP to qualified institutional buyers (QIB) for raising a sum of up to Rs.2,500 crore," Parsvnath said in a regulatory statement.

May 4th, 2009 MUMBAI - Major housing loan provider HDFC Monday said its net profit dipped 6.3 percent to Rs.2,282.54 crore for the year ended March 31 from Rs.2,436.25 crore the previous fiscal. The company's total income, however, rose 36.33 percent in 2008-09 to Rs.10,992.43 crore from Rs.8,062.8 crore it made in the previous year.