HDFC Bank, one of the leading private sector lenders, announced that the bank has received an approval from the Foreign Investment Promotion Board (FIPB) allowing the bank to maintain the permissible foreign holding upto 74% of its paid up share capital.

Further, the bank will issue equity shares aggregating to an amount upto Rs 100 billion to NRIs / FIIs/ FPIs not exceeding 74% of the post issue paid up capital of the bank, subject to complying with the conditions stipulated in the approval letter.

Shares of the bank gained Rs 13.45, or 1.26%, to trade at Rs 1,080.70 at the BSE (11.02 a.m., Thursday).