HDFC Bank today said it will seek shareholders’ approval to hike the authorised share capital of the bank to Rs 650 crore.
The proposal came as one of the outcomes of the board meeting of the bank held today.
“To seek approval of the shareholders for increase in the authorised share capital of the bank from Rs 550 crore comprising 275 crore shares of Rs 2 each to Rs 650 crore comprising 325 crore equity shares of Rs 2 each”, it said in a BSE filing.
The private sector lender HDFC Bank said it will make consequent changes to the Memorandum of Association of the Bank.
Besides, it will seek shareholders’ approval to issue stock options to employees.
The bank further informed its Annual General Meeting will be held on July 21 in Mumbai.
Shares of HDFC Bank closed 0.35 per cent down at Rs 1,136.95 apiece on BSE.