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IndusInd Bank, on Friday, reiterated that it has adequate capital and said there is no specific investment transaction being considered by its board at present. “There is no specific transaction under consideration by the board of the bank at this stage. We stay committed to evaluate alternatives from time to time that may benefit our stakeholders,” it said in a regulatory filing on Friday.
The private sector lender further stated that it is well capitalised with Tier 1 ratio of 15 per cent and Capital Adequacy Ratio of 15.43 per cent.
It also pointed out that its promoters have applied to the Reserve Bank of India for increasing their permissible holding to 26 per cent.
“On a fully diluted basis, the promoters of the bank have a holding of 14.68 per cent, which is very close to the current regulatory cap of 15 per cent,” it said.
IndusInd Bank had also been thinking of fund raising last month but deferred its plans in the aftermath of the YES Bank crisis.
The lender had called a meeting of the board, which was scheduled on March 9, to consider borrowing and raising of funds in Indian and or Foreign Currency by issuance of debt securities in the nature of Additional Tier I Capital (AT-1) and or Tier 2 Capital (T2 Bonds) of the bank.
The bank has been facing turbulence for some time and its share price, too, has been impacted. In a recent investor call, it had said that its total deposits fell by about 10 per cent to 11 per cent, most of which were from government-related accounts.
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