Indusind Bank Ltd approves allotment of 10000 Basel III Compliant Bonds

The Finance Committee of the Board of Indusind Bank Ltd has, in its meeting held today - April 18, 2017, approved the 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 (AT1 Bonds), for Face Value of Rs.10 lakhs each for cash aggregating to Rs.1,000 crores (Rupees One Thousand crores only) on Private Placement basis.

The aforesaid Bonds will be issued in dematerialised form and will be listed on the Wholesale Debt Market (WDM) segment of National Stock Exchange of India Limited.

Shares of INDUSIND BANK LTD. was last trading in BSE at Rs.1426.55 as compared to the previous close of Rs. 1435.65. The total number of shares traded during the day was 53189 in over 1498 trades.

The stock hit an intraday high of Rs. 1443.9 and intraday low of 1425. The net turnover during the day was Rs. 76363797.

Source : Equity Bulls

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