Money & Banking

IndusInd Bank to raise ₹30,000 cr

Our Bureau Mumbai | Updated on July 25, 2021

The proposal was cleared by the bank’s board in its meeting on July 24

Private sector lender IndusInd Bank plans to raise up to ₹30,000 crore through debt and equity.

“Raising funds through debt securities or equity instruments or convertible debt securities in any permitted mode…for an aggregate amount not exceeding ₹30,000 crore…,” it said in a stock exchange filing on Saturday.

The permitted modes of fundraising include through Qualified Institutions Placement, American Depository Receipts, Global Depository Receipts programme, or combinations on a private placement basis thereof as may be decided by the board.

The bank will be raising ₹30,000 crore or its equivalent amount in such foreign currencies as may be necessary, subject to approval of the shareholders of the bank and receipt of other governmental / regulatory / statutory approvals, as per the filing.

The proposal was cleared by the bank’s board in its meeting on July 24. It will also seek approval from shareholders for this.

Published on July 24, 2021

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor

You May Also Like