IndusInd Bank board plans to raise funds via debt route on July 18

IndusInd Bank said its board of directors will meet on Monday, July 18, 2022 to consider the proposal to raise funds through the issuance of debt securities in any permitted mode on a private placement basis.

On the same day, the Board of Directors will finalize the date for the bank’s 28th Annual General Meeting (AGM) and set the “record date” for the purposes of the bank’s AGM and for the right to dividend for the bank. fiscal year ended March 31, 2022.

Separately, the bank said its board of directors will review and approve the unaudited standalone and consolidated financial results for the quarter ended June 30, 2022 on Wednesday, July 20, 2022.

IndusInd Bank caters to both individuals and businesses. As of March 31, 2022, the bank’s distribution network comprised 2,265 branches/outlets and 2,767 onsite and offsite ATMs.

The bank recorded a 55.4% increase in its standalone net profit to Rs 1,361.37 crore on a 6.1% increase in total revenue to Rs 9,761.89 crore in Q4 FY22 compared to Q4 FY21.

The certificate lost 0.60% to currently trade at Rs 853 on BSE.

Over the past three months, the stock has fallen 13.31% while the Nifty Bank Index has fallen 5.9% over the same period.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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