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IndusInd Bank plans to raise Rs 1,000 crore on private placement basis

IndusInd Bank is eyeing 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 lakh each for cash aggregating to Rs 1,000 crore 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 through Circular Resolution.

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