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IndusInd Bank to raise Rs 1000 crore on private placement basis

20 Mar 2017 Evaluate

IndusInd Bank has received an approval for issuance of Rated, Listed, Non-Convertible, Perpetual Subordinated Unsecured Basel III Compliant Bonds in the nature of Debentures towards non-equity regulatory Additional Tier 1 Capital (AT1 Bonds), for Face Value of Rs 10 lakh each for cash aggregating to Rs 1,000 crore on private placement basis.

The board of directors of the bank at its meeting held on March 18, 2017 has passed the resolution for the same. The said Debentures have been rated 'AA / Stable' by CRISIL and 'AA' by India Ratings & Research. The above-mentioned Debentures will be listed on the National Stock Exchange of India.

Peers
Company Name CMP
HDFC Bank 705.00
ICICI Bank 1333.00
Axis Bank 1223.95
Kotak Mahindra Bank 416.30
Indusind Bank 882.30
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