The authorized capital of HDFC Bank is Rs.450 crore (Rs.4.5 billion). The paid-up capital is
Rs.311.9 crore (Rs.3.1 billion). The HDFC Group holds 22.1% of the bank's equity and about
19.4% of the equity is held by the ADS Depository (in respect of the bank's American Depository
Shares (ADS) Issue). Roughly 31.3% of the equity is held by Foreign Institutional Investors (FIIs)
and the bank has about 190,000 shareholders. The shares are listed on the Stock Exchange, Mumbai
and the National Stock Exchange. The bank's American Depository Shares are listed on the New
York Stock Exchange (NYSE) under the symbol "HDB".
HDFC Bank operates in a highly automated environment in terms of information technology and
communication systems. All the bank's branches have online connectivity, which enables the bank to
offer speedy funds transfer facilities to its customers. Multi-branch access is also provided to retail
customers through the branch network and Automated Teller Machines (ATMs).
In a milestone transaction in the Indian banking industry, Times Bank limited (another new private
sector bank promoted by Bennett, Coleman & Co./Times Group) was merged with HDFC Bank Ltd.,
effective February 26, 2000. As per the scheme of amalgamation approved by the shareholders of
both banks and the Reserve Bank of India, shareholders of Times Bank received 1 share of HDFC
Bank for every 5.75 shares of Times Bank. The acquisition added significant value to HDFC Bank
in terms of increased branch network, expanded geographic reach, enhanced customer base, skilled
manpower and the opportunity to cross-sell and leverage alternative delivery channels
Rs.311.9 crore (Rs.3.1 billion). The HDFC Group holds 22.1% of the bank's equity and about
19.4% of the equity is held by the ADS Depository (in respect of the bank's American Depository
Shares (ADS) Issue). Roughly 31.3% of the equity is held by Foreign Institutional Investors (FIIs)
and the bank has about 190,000 shareholders. The shares are listed on the Stock Exchange, Mumbai
and the National Stock Exchange. The bank's American Depository Shares are listed on the New
York Stock Exchange (NYSE) under the symbol "HDB".
HDFC Bank operates in a highly automated environment in terms of information technology and
communication systems. All the bank's branches have online connectivity, which enables the bank to
offer speedy funds transfer facilities to its customers. Multi-branch access is also provided to retail
customers through the branch network and Automated Teller Machines (ATMs).
In a milestone transaction in the Indian banking industry, Times Bank limited (another new private
sector bank promoted by Bennett, Coleman & Co./Times Group) was merged with HDFC Bank Ltd.,
effective February 26, 2000. As per the scheme of amalgamation approved by the shareholders of
both banks and the Reserve Bank of India, shareholders of Times Bank received 1 share of HDFC
Bank for every 5.75 shares of Times Bank. The acquisition added significant value to HDFC Bank
in terms of increased branch network, expanded geographic reach, enhanced customer base, skilled
manpower and the opportunity to cross-sell and leverage alternative delivery channels
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