IndusInd Bank will raise the sum via a mix of debt and equity, subject to regulatory and shareholder approval.
| Photo Credit:
ANUSHREE FADNAVIS
In a move to boost investor sentiment, IndusInd Bank’s board on Wednesday approved raising up to ₹30,000 crore via a mix of debt and equity, subject to regulatory and shareholder approval.
The lender will raise ₹20,000 crore through debt securities in any permitted mode on a private placement basis, or its equivalent amount in permitted foreign currencies. It will also augment capital base via issue of securities including American Depository Receipts, Global Depository Receipts, Qualified Institutional Placement, amounting to ₹10,000 crore.
The bank said post approval of Reserve Bank of India (RBI), it will make amendments in its Articles of Association to give its promoter — Hindujas — right to appoint two non-executive, non-independent directors on the bank’s board. Separately, the bank informed that Jayant Deshmukh ceases to be the non-executive director on its board on account of completion of his tenure.
Earlier this year, IndusInd Bank made disclosure of accounting lapses in its derivatives portfolio. The bank appointed external agencies to assess the financial impact—which was later revealed to be around ₹2,000 crore– and to find the root cause of the accounting errors. Taking moral responsibility of the lapses, its former CEO Sumath Kathpalia resigned from the bank in April, just a day after its former deputy CEO Arun Khurana left the bank.
Published on July 23, 2025
