IndusInd Bank’s Fundraising Plan
The board of IndusInd Bank Ltd. has approved the raising of funds worth Rs 30,000 crore through various financial instruments, as per an exchange filing.
According to the filing, the bank is set to raise Rs 20,000 crore through the issue of debt securities on a private placement basis. An additional Rs 10,000 crore equity fund raise through the issue or placement of securities has also been approved by the board to strengthen the bank’s capital.
Furthermore, it was reported that Jayant Deshmukh has ceased to be a non-executive independent director of the bank. This change came into effect upon the completion of his tenure on July 23.
Upcoming Financial Update
The bank is expected to release its financial report for June on July 28. IndusInd Bank is currently in search of a new Chief Executive Officer, with Anup Kumar Saha being rumored as a potential candidate following his recent resignation from Bajaj Finance.
