IndusInd Bank , a leading private sector bank in India, has announced significant corporate decisions, including a major fundraising plan and its latest quarterly results.

Capital Raising Initiatives

The Board of Directors of IndusInd Bank has approved ambitious fundraising plans totaling ₹30,000.00 crore:

• Debt Securities: The bank aims to raise up to ₹20,000.00 crore through debt securities on a private placement basis.
• Equity Capital: An additional ₹10,000.00 crore is planned to be raised through various equity instruments, including American Depository Receipts (ADRs), Global Depository Receipts (GDRs), and Qualified Institutional Placement (QIP).

These capital raising initiatives are subject to shareholder approval and necessary regulatory clearances.

Quarterly Financial Results

In its latest quarterly results, IndusInd Bank reported:

• Corporate banking advances fell by 14.40% annually.
• Consumer businesses grew by 4.80%.

Changes to Board Composition

The bank's board has approved amendments to allow promoters to nominate up to two directors, subject to certain limitations on Non-Executive Non-Independent Directors.

Stock Performance

IndusInd Bank's shares closed at ₹851.75, up 1.06%.

These corporate actions and financial results reflect IndusInd Bank's strategic approach to capital management and its performance in the current economic environment.

Indusind Bank , a prominent player in India's banking sector, has announced significant changes in its board composition and future plans. The bank's recent board meeting resulted in several key decisions that are likely to shape the institution's trajectory in the coming months.

Board Changes and Nominations

Jayant Deshmukh, who served as a Non-Executive Independent Director of IndusInd Bank, has completed his tenure and stepped down from his position. The Board of Directors expressed their appreciation for Deshmukh's meaningful contributions during his time with the bank.

In a significant development, the bank has announced that its promoters will be able to nominate up to two directors to the board. This change is subject to an amendment in the Articles of Association, which has received approval from the Reserve Bank of India and is pending shareholder approval.

Strategic Financial Decisions

The board meeting resulted in several significant financial decisions:

Capital Augmentation

IndusInd Bank has announced plans to increase its capital by Rs. 100.00 billion (Rs. 10,000 crores). This will be done through various means, including the issuance of American Depository Receipts, Global Depository Receipts, or a Qualified Institutional Placement, subject to necessary approvals.

Debt Securities Issuance

The bank has approved raising funds through debt securities on a private placement basis for an aggregate amount of Rs. 200.00 billion (Rs. 20,000 crores) or its equivalent in permitted foreign currencies. This decision is subject to shareholder approval and regulatory clearances.

Financial Disclosures and Investor Relations

IndusInd Bank has scheduled an analyst call and webcast to discuss its unaudited consolidated and standalone financial results for the quarter ended June 30. This proactive approach to financial communication underscores the bank's commitment to keeping its stakeholders informed about its performance and future outlook.

Annual General Meeting

The bank has scheduled its 31st Annual General Meeting (AGM) at Hotel Sheraton Grand, Raja Bahadur Mill Road, Pune. In line with modern practices, the bank will distribute the AGM notice and Integrated Annual Report electronically to members with registered email addresses.

These developments at IndusInd Bank reflect a strategic approach to governance, financial planning, and stakeholder engagement. The capital raising plans and changes in board nomination rights are particularly significant, potentially impacting the bank's growth trajectory and governance structure. As the bank navigates through these changes, the financial community will be keenly watching how these decisions impact its market position in the competitive Indian banking landscape.