IndusInd Bank to Raise ₹300 Billion via Debt, Equity Instruments

IndusInd Bank said Wednesday its board has approved plans to raise ₹200 billion through debt securities and an additional ₹100 billion in capital via instruments such as ADRs, GDRs, or QIPs.

The bank will hold its annual general meeting on Friday at 14:00 IST. Separately, it announced that Jayant Deshmukh will step down as non-executive independent director from Thursday, following the completion of his tenure.

For the March quarter, the bank reported a net loss of ₹22.36 billion, compared with a net profit of ₹23.47 billion a year earlier. Total income declined nearly 23% on year to ₹113.43 billion, dragged down by lower interest and other income.