New Delhi: IndusInd Bank, a private sector lender, announced on Friday that it intends to raise Rs 30,000 crore through the issuance of debt securities and shares.
The lender announced in a filing to the stock exchange that its Board of Directors had approved the fundraising during a meeting on Friday. The board has authorized raising funds through debt securities in any approved method on a private placement basis for a total of Rs 20,000 crores or its equivalent in approved foreign currencies.
This is contingent upon the shareholders' approval and regulatory/statutory approvals being granted. Additionally, the bank intends to raise Rs 10,000 crore through the issuance or placement of securities like American Depository Receipts, Global Depository Receipts, and Qualified Institutional Placement in approved foreign currencies.
IndusInd Bank has scheduled its Annual General Meeting in Pune on August 27. The bank's shares ended at Rs 1432.20 each on Friday, dropping 1.58 percent from the previous closing price.
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