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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.
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