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IndusInd Bank on Saturday said it is planning to raise up to Rs 30,000 crore through a mix of equity and debt to fund its business growth.
The lender’s board approved a proposal for raising funds through debt securities or equity instruments or convertible debt securities in any permitted mode such as Qualified Institutional Placement or American Depository Receipts or Global Depository Receipts, it said in a BSE filing. The funds will be raised on a private placement basis.
The bank proposes to raise up to Rs 30,000 crore or its equivalent amount in such foreign currencies as may be necessary.
The bank has not specified a timeline for raising debt and equity capital. The proposal will be taken up at Annual General Meeting slated for August 26.