IndusInd Bank has said that its board has provided its approval for raising Rs 1,000 crore through issuing bonds on private placement basis.

The bank has said in a regulatory filing that the approval has been accorded by the finance committee of the board.

The board has said that it has approved the allotment of 10,000 rated, listed, non-convertible, perpetual, subordinated and unsecured Basel III-complaint bonds in the nature of debentures towards non-equity regulatory additional tier 1 capital, for face value of Rs 10 lakh each for cash aggregating to Rs 1,000 crore on private placement basis.

As per the filing, “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.”

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