HDFC Bank Gives Rs 370 Crore Equity Bonanza To Employees Under ESOPs

New Delhi: HDFC Bank announced on Thursday that it has issued over two million equity shares to its employees, the lender said in a stock exchange filing.

"We wish to inform you that the Bank has allotted today 20,56,400 equity shares to the employees of the Bank pursuant to exercise of options under its Employees Stock Options Schemes (ESOS)," said the bank in a stock exchange filing on Thursday morning.

The paid up share capital of the Bank will accordingly increase from Rs 516,79,93,234 equity shares of Rs 2 each to Rs.517,21,06,034 equity shares of Rs 2 each.

On Thursday, the scrip trades at Rs 1806 on the BSE, 0.63% higher than the previous session's closing. The scrip hit its 52-week high on October 24. At the scrip price, the value of shares issued to employees can be estimated to around Rs 370,47,07,420.

The HDFC shares opened at Rs 1,784 and hit a high of Rs 1,810 and a low of Rs 1,685 on BSE on Thursday. However, the scrip traded in the range of Rs 1,757 and Rs 1,810 on NSE.

The scrip had closed at Rs 1794.50 on Wednesday, slightly lower than the previous session's closing of Rs 1,865. On Wednesday, the shares of HDFC had fallen slightly while the PSU lenders' shares rose in wake of the government's announcement of planning to inject Rs 2.11 lakh crore in next two years.

HDFC Bank's second quarter results announced recently met the market's estimates. The bank registered 15% rise in interest income to Rs19,670 crore in the September quarter.

A 9% rise in interest expenses to Rs 9,918.21 crore saw net interest income grow 22% to Rs 9,752 crore. Other income grew 24% to Rs 3,605.90 crore, which took net total income up 23% to Rs 13,357.97 crore.