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IndusInd Bank to raise Rs 1000 crore on private placement basis

IndusInd Bank has received its board’s approval for issuance of Rated, Listed, Non-Convertible, Perpetual Subordinated Unsecured Basel III Compliant Bonds in the nature of Debentures towards non-equity regulatory Additional Tier 1 Capital (AT1 Bonds), for Face Value of Rs 10 lakh each for cash aggregating to Rs 1,000 crore on private placement basis. The above-mentioned Debentures will be listed on the National Stock Exchange of India. The said Debentures have been rated ‘AA / Stable’ by CRISIL and ‘AA’ by India Ratings & Research.

IndusInd Bank has reported 29.19% rise in its net profit at Rs 750.64 crore for third quarter ended December 31, 2016, as compared to Rs 581.02 crore for the same quarter in the previous year. Total income of the Bank increased by 22.86% at Rs 4716.13 crore for Q3FY17 as compared Rs 3838.55 crore for the corresponding quarter previous year.

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