IndusInd Bank firms up as board to mull fund raising

IndusInd Bank rose 1% to Rs 1,076.90 after the bank said its board will consider fund raising on 9 March 2020.

The board of IndusInd Bank will meet on 9 March 2020 to consider raising funds in Indian and/or foreign currency by issuing debt securities in the nature of additional Tier 1 Capital (AT1) and/or Tier 2 Capital (T2 Bonds) of the bank. The announcement was made after market hours yesterday, 4 March 2020.

IndusInd Bank's standalone net profit jumped 32% to Rs 1,300.20 crore on a 25.5% surge in total income to Rs 9,073.93 crore in Q3 December 2019 over Q3 December 2018.

 

IndusInd Bank is engaged in banking and para-banking services. The bank is involved in accepting deposits, such as savings accounts, current accounts and fixed deposits, and banking solutions.

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