IndusInd Bank gained 0.12% to Rs 1,401.95 at 10:10 IST on BSE after the bank said that it proposes to raise funds by issue of debentures on private placement basis.
The announcement was made after market hours yesterday, 5 April 2017.Meanwhile, the S&P BSE Sensex was down 58.30 points or 0.19% at 29,915.94.
On the BSE, 4,372 shares were traded on the counter so far as against the average daily volumes of 1.58 lakh shares in the past one quarter. The stock had hit a high of Rs 1,407.70 and a low of Rs 1,397.50 so far during the day. It had hit a record high of Rs 1,440 on 31 March 2017 and a 52-week low of Rs 935.05 on 8 April 2016.
It had outperformed the market over the past one month till 5 April 2017, advancing 7.62% compared with the Sensex's 3.96% rise. The scrip had also outperformed the market over the past one quarter, gaining 24.19% as against the Sensex's 11.52% rise.
The large-cap bank has equity capital of Rs 598.15 crore. Face value per share is Rs 10.
IndusInd Bank said it proposes to raise funds by issue and allotment of rated, listed, non-convertible, perpetual, subordinated and unsecured Basel III compliant bonds in the nature of debentures towards non-equity regulatory additional tier I capital (AT1 bonds), for face value of Rs 10 lakh each for cash aggregating to Rs 1000 crore on private placement basis.
The board of directors of the bank shall consider the proposal for issuance and allotment of the above securities via circular resolution. Upon receipt of approval of the board of directors, the bank shall intimate the date of passing of the circular resolution and other details of the issue.
IndusInd Bank's net profit rose 29.2% to Rs 750.64 crore on 22.9% growth in total income to Rs 4716.13 crore in Q3 December 2016 over Q3 December 2015.
IndusInd Bank is a leading private sector bank in India.
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