IndusInd Bank to raise Rs 1,500cr by bonds

Private sector IndusInd Bank will raise Rs 1,500 crore by issuing bonds on private placement basis.
"The bank proposes to raise funds by issue and allotment of senior unsecured redeemable non-convertible long term bonds in the nature of debentures for face value of Rs 10 lakh each for cash aggregating to Rs 1,500 crore on private placement basis," it said in an exchange filing.
IndusInd Bank said the borrowing will be withing the overall borrowing limits of the bank.
The board of directors will consider the proposal to issue and allot securities, it added.
Shares of the bank closed 0.97 per cent down at Rs 1078.85 on BSE.