Indusind Bank To Raise Up To Rs 2,000cr Via Bonds

Private lender IndusInd Bank said that it will raise up to Rs 2,000 crore through issuance of long-term infrastructure bonds and subordinated non-convertible debentures/bonds on a private placement basis. IndusInd Bank said its Board of Directors had, at their meeting held on January 13, approved "the proposal for issuance of long-term infrastructure bonds and subordinated non-convertible debentures (NCDs)/bonds eligible to be included as additional tier-1 and tier-2 capital of the bank up to Rs 2,000 crore on private placement basis." The bank added that it will seek approval of its shareholders through a postal ballot.