IndusInd Bank to raise ₹30,000cr for expansion plans
IndusInd Bank just got the green light from its board to raise a whopping ₹30,000 crore.
The plan? Gather ₹20,000 crore through debt and another ₹10,000 crore via equity routes like QIP, ADRs, and GDRs—all to fuel the bank's next phase of expansion.
Fundraise to boost bank's financial strength
This big fundraise is all about boosting IndusInd's financial strength and giving it more room to lend.
The debt will be raised through private placements in Indian or foreign currencies, while the equity chunk will come from both local and global investors.
It's a move aimed at supporting credit growth and keeping up with the fast pace of India's banking sector.
IndusInd Bank's loan and deposit growth
The numbers are looking strong: In April-June FY24, IndusInd's loans shot up 19% year-on-year to ₹3.48 lakh crore, while deposits climbed 15% to ₹3.98 lakh crore.
IndusInd Bank has been serving both retail and corporate customers since its start in 1994.