IndusInd Bank today said its board has approved raising of Rs 1,000 crore by issuing bonds on private placement basis.
The approval has been given by the finance committee of the board, the bank said in a regulatory filing.
The board, it said, has approved the allotment of 10,000 rated, listed, non-convertible, perpetual, subordinated and unsecured Basel III-compliant bonds in the nature of debentures towards non-equity regulatory additional tier 1 capital, for face value of Rs 10 lakh each for cash aggregating to Rs 1,000 crore on private placement basis.
"The aforesaid bonds will be issued in dematerialised form and will be listed on the Wholesale Debt Market (WDM) segment of National Stock Exchange of India Limited," the filing on BSE said.
Shares of IndusInd Bank closed at Rs 1,431.75 on BSE, down 0.27 per cent.
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