IndusInd Bank has received an approval for raising Rs 1,000 crore by issuing bonds on private placement basis. The approval has been given by the finance committee of the board.
The Bank has received an approval for allotment of 10,000 rated, listed, non-convertible, perpetual, subordinated and unsecured Basel III-compliant bonds in the nature of debentures towards non-equity regulatory additional tier 1 capital, for face value of Rs 10 lakh each for cash aggregating to Rs 1,000 crore on private placement basis.
The Bank has reported 29.19% rise in its net profit at Rs 750.64 crore for third quarter ended December 31, 2016, as compared to Rs 581.02 crore for the same quarter in the previous year. Total income of the Bank increased by 22.86% at Rs 4716.13 crore for Q3FY17 as compared Rs 3838.55 crore for the corresponding quarter previous year.