India's IndusInd Bank to raise up to 300 billion rupees
IndusInd will issue debt worth 200 billion rupees on a private placement basis and also increase capital by 100 billion rupees through an additional issue or placement of securities.
The bank took a $230 million hit in the fiscal year ended March 31 due to years of misaccounting of internal derivative trades, prompting the resignations of CEO Sumant Kathpalia and deputy Arun Khurana in April.
IndusInd will report its first-quarter results on July 28.
($1 = 86.3730 Indian rupees)
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