IndusInd Bank Plans To Raise Up To Rs 20,000 Cr

Private sector IndusInd Bank plans to raise up to Rs 20,000 crore by issuing bonds on a private placement basis from the domestic or foreign markets, the bank said in its annual report 2018-19.

The bank said it will put up the proposal before the shareholders in its ensuing annual general meeting to be held on August 16, 2019, in Pune.

The bank said it board of directors it will seek consent of members (shareholders) for borrowing/raising of funds in Indian/foreign currency by way of issue of securities, in the nature of bonds/non-convertible debentures, long-term infrastructure bonds, medium term notes or any other listed debt security aggregating up to an amount not exceeding Rs 20,000 crore.

The money is to be raised on a private placement basis, in domestic and/or overseas market during a period of one year from the date of passing of resolution, it added. Stock of IndusInd Bank was trading 0.40 per cent up at Rs 1,422.90 on the BSE.