Home > Industry > Banking > IndusInd Bank to raise up to 20,000 crore

Private sector lender IndusInd Bank plans to raise up to 20,000 crore by issuing bonds on a private placement basis from the domestic or foreign markets, it said in its annual report for FY19.

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

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