IndusInd Bank to Raise Rs 30,000 Crore via Debt & Shares
Jul 20, 2024 00:05
IndusInd Bank announces plans to raise Rs 30,000 crore through debt securities and share sales. The move will see the bank raise Rs 20,000 crore via debt and Rs 10,000 crore through equity.
Mumbai, July 19 (PTI) Private sector lender IndusInd Bank on Friday said it plans to raise Rs 30,000 crore through debt securities and share sales.
In a stock exchange filing, the lender said its Board of Directors approved the fund raise at a meeting held on Friday.
The Board has approved "raising of funds through debt securities in any permitted mode on a private placement basis as may be decided, for an aggregate amount of Rs 20,000 crores or its equivalent amount in permitted foreign currencies".
This is subject to the approval of shareholders and regulatory/statutory approvals.
Further, the bank plans to raise Rs 10,000 crore through issue or placement of securities including American Depository Receipts, Global Depository Receipts, Qualified Institutional Placement in permitted foreign currencies.
IndusInd Bank has convened its Annual General Meeting on August 27 in Pune.
Shares of the bank closed at Rs 1432.20 a piece on Friday, down 1.58 per cent over previous close.
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