Indusind Bank in talks with bankers for $750 million share sale - sources

MUMBAI (Reuters) - Indusind Bank is in talks with investment banks to arrange a share sale that could be worth $750 million, two sources directly involved in the deal told Reuters.

Morgan Stanley, CLSA, JM Financial and Credit Suisse are in the running to act as arrangers, these sources said, declining to be identified as they were not allowed to talk to the media.

Indusind Bank is looking to complete the share sale by the end of 2015, the sources added.

The bank had in May sought shareholder approval to augment its capital via the sale of up to 60 million shares, according to an exchange filing.

 

A spokesman on behalf of Credit Suisse did not offer immediate comments while spokeswoman on behalf of Morgan Stanley, JM Financial and CLSA did not immediately replied to email seeking comments.

An Indusind Bank spokesman did not immediately reply to an email seeking commen.

(Reporting by Abhishek Vishnoi; Additional reporting by Devidutta Tripathy; Editing by Louise Heavens)