HDFC Bank said it is seeking approval from the shareholders to increase its authorized capital to Rs 650 crore. The bank’s board held its meeting in Mumbai and took a decision to this effect, the bank said. A statement to the stock exchanges from the bank said the board has decided to seek approval of the shareholders for increase in the authorized 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. Besides, the board also decided to seek shareholders’ approval to issue stock options to employees.
