IndusInd Bank Plans To Raise Up To Rs 20,000 Crore By Issuing Bonds

IndusInd Bank Ltd. plans to raise up to Rs 20,000 crore by issuing bonds on a private placement basis, the private sector lender said in its annual report for 2018-19.

The bank said it will put up the proposal before the shareholders in its annual general meeting in Pune on Aug. 16.

The bank said its board of directors 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 Rs 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.