<p>Private lender IndusInd Bank today said it will raise up to Rs 2,000 crore through issuance of long-term infrastructure bonds and subordinated non-convertible debentures/bonds on a private placement basis.<br /><br /></p>.<p>In a BSE filing, IndusInd Bank said its Board of Directors had, at their meeting held on January 13, 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 up to Rs 2,000 crore on private placement basis."<br /><br />The bank added that it will seek approval of its shareholders through a postal ballot.<br /><br />The Board in the aforesaid meeting appointed Romesh Sobti, Managing Director and CEO, S V Zaregaonkar, Chief Financial Officer and Haresh Gajwani, Company Secretary, as persons designated for conduct of the entire postal ballot process, the bank said.<br /><br />The Board authorised Sobti for finalisation of terms and conditions for issuance of long term bonds/NCDs, to finalise 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.<br /><br />Shares of IndusInd were trading at Rs 856.75 apiece, down 1.02 per cent from previous close on the BSE.<br /></p>
<p>Private lender IndusInd Bank today said it will raise up to Rs 2,000 crore through issuance of long-term infrastructure bonds and subordinated non-convertible debentures/bonds on a private placement basis.<br /><br /></p>.<p>In a BSE filing, IndusInd Bank said its Board of Directors had, at their meeting held on January 13, 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 up to Rs 2,000 crore on private placement basis."<br /><br />The bank added that it will seek approval of its shareholders through a postal ballot.<br /><br />The Board in the aforesaid meeting appointed Romesh Sobti, Managing Director and CEO, S V Zaregaonkar, Chief Financial Officer and Haresh Gajwani, Company Secretary, as persons designated for conduct of the entire postal ballot process, the bank said.<br /><br />The Board authorised Sobti for finalisation of terms and conditions for issuance of long term bonds/NCDs, to finalise 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.<br /><br />Shares of IndusInd were trading at Rs 856.75 apiece, down 1.02 per cent from previous close on the BSE.<br /></p>