IndusInd Bank plans to raise Rs 2,000 crore

IndusInd Bank plans to raise Rs 2,000 crore

IndusInd Bank plans  to raise Rs 2,000 crore

Indusind Bank plans to raise up to Rs 2,000 crore through various sources, including bonds and debentures.

The board had, at its meeting held on January 13, 2015, approved the proposal for issuance of long-term infrastructure bonds, and subordinated non-convertible debentures (NCDs)/bonds eligible to be included as additional tier-1 and tier-2 capital of the bank totalling up to Rs 2,000 crore on private placement basis, as permissible under RBI guidelines.

The board had appointed Romesh Sobti, MD and CEO; SV Zaregaonkar, chief financial officer; and Haresh Gajwani, company secretary, as persons designated for conduct of the entire postal ballot process. It also authorised Romesh Sobti to finalise the terms and conditions for issuance of long-term bonds/NCDs, to prepare the calendar of events with regards to postal ballot, to appoint various intermediaries, and to sign, execute and enter into agreements with the intermediaries, etc.

Indusind Bank had posted a 28.91 per cent increase in net profit for the third quarter ended December 31, 2014, at Rs 447.19 crore compared with Rs 346.9 crore for the quarter ended December 31, 2013.

Total income grew 16.15 per cent to Rs 3,047.7 crore for the quarter ended December 31, 2014, as against Rs 2,623.76 crore for the quarter ended December 31, 2013.

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