IndusInd Bank board approves fund raising plan

IndusInd Bank board approves fund raising plan

by admin- Monday, July 26th, 2021 04:31:44 PM

IndusInd Bank approved a Rs. 30,000 crore fund raising plan on January 24. The bank may raise these funds through routes including qualified institutional placement, American Depository Receipts, Global Depository Receipts, and any other mode, according to the board’s decision.

IndusInd Bank will seek approval from shareholders for this fund raising in its upcoming annual general meeting on August 26.

The bank has also proposed to raised its authorised share capital from Rs. 875 crore to Rs. 1,000 crore.

The bank’s board approved the appointment of Jayant Vasudeo Deshmukh as additional director on the board and approved the appointment of Haribhakti & Co and MP Chitale & Co. as joint statutory auditors. The shareholders of the bank will vote on the increase in authorised capital base and these appointments at the AGM.

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