Indusind Bank Ltd proposes to raise funds

Indusind Bank Ltd proposes to raise funds by issue and allotment of Rated, Listed, Non-Convertible, Perpetual, Subordinated and Unsecured Basel III Compliant Bonds in the nature of Debentures towards Non-Equity Regulatory Additional Tier I Capital (AT1 Bonds), for Face Value of Rs.10 lakhs each for cash aggregating to Rs.1,000 crores (Rupees One Thousand crores only) on Private Placement basis.

The said borrowing shall be within the overall borrowing limits of the Bank as may be approved by the shareholders from time to time.

The Board of Directors of the Bank shall consider the proposal for issuance and allotment of the above securities via Circular Resolution. Upon receipt of approval of the Board of Directors, the company shall intimate the date of passing of the Circular Resolution and other details of the said Issue.

Shares of INDUSIND BANK LTD. was last trading in BSE at Rs.1400.2 as compared to the previous close of Rs. 1403.25. The total number of shares traded during the day was 130947 in over 1231 trades.

The stock hit an intraday high of Rs. 1406.7 and intraday low of 1392.2. The net turnover during the day was Rs. 182924270.

Source : Equity Bulls

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