IndusInd Bank Plans Rs 30,000 Crore Fundraise Via Debt, Equity
The private lender will seek Rs 20,000 crore through debt securities on a private placement basis in permitted foreign currencies.
IndusInd Bank Ltd. plans to raise up to Rs 30,000 crore through the issue of debt securities and share sales. The board approved the capital raise plans in a meeting on Friday.
The private lender will seek Rs 20,000 crore through debt securities on a private placement basis in permitted foreign currencies, subject to greenlight from shareholders and receipt of regulatory and statutory approvals, according to an exchange filing.
Moreover, Rs 10,000 crore will be raised via the placement of securities, including American Depository Receipts, Global Depository Receipts, qualified institutional placement, etc., in permitted foreign currencies.
IndusInd Bank will convene its 30th annual general meeting on August 27 in Pune, where the fund-raising proposals will be voted upon.
The lender will announce its first-quarter results on July 26. It reported a 19% yearly rise in gross advances to Rs 3.48 lakh crore in the April–June quarter, according to provisional figures. The bank's deposit rose 15% to Rs 3.98 lakh crore.
Shares of IndusInd Bank closed 1.58% lower at Rs 1,432.2 apiece ahead of the announcement, compared to a 0.91% decline in the benchmark BSE Sensex.
