IndusInd Bank shares gain as board approves Rs 20,000 crore fund raising plan

Shares of IndusInd Bank rose as its Board of Directors approved a financing plan of Rs 2 lakh.
As of 9:28 am, the share price is trading at Rs 1425.90.
IndusInd Bank’s Board of Directors at its July 20th meeting aims to secure funds of Rs 2 lakh crore or equivalent in foreign currency, subject to the approval of bankers and obtaining the necessary regulatory and legal approvals Approved private placement-based bond financing.
The relevant decisions will be effective for 12 months from the date of adoption by the World Bank members at its 29th Annual Meeting or until its 30th Annual Meeting, whichever comes first, the Bank said.
Our 29th Annual General Meeting (AGM) will be held on August 24, 2023 via video conference or other audiovisual means. On July 18, the bank announced that its net profit for the April-June quarter was Rs 2.124 billion, up 33% from Rs. 1.631 billion for the same period last year.
The bank’s gross non-performing assets (GNPA) stood at 1.94%, down from 2.35% a year ago. Net NPA was 0.58%, up from 0.67% a year ago.
Gross income for the quarter also increased by 28% year-on-year to Rs.12,939 million, contributing to net interest income of Rs.5,863 million, up 18% from Rs.4,125 million in the previous year.
Brokerage KRChoksey gave adjusted figures for the 2025 fiscal year in a July 20 report. PER is 1.9x. BVPS is 898.4 rupees and target price is revised to 1,705 rupees per share (previously 1,475 rupees), 20% higher than CMP.
The company maintained a buy rating on IndusInd Bank shares.