Indusind Bank Share: Indusind Bank shares rise – know what is the update

News Topical, Digital Desk : Indusind Bank on Friday announced that it is not currently engaged in any capital raising discussions or plans. The bank stated that media reports are factually incorrect and based on speculation. Following this news, the bank's shares rose by 3%. This clarification came after media reports suggested that Indusind Bank had begun the groundwork to raise $1 billion in equity and was exploring options such as a QIP or preferential issue. The bank has completely denied these reports.

The report said that Citi, which has advised IndusInd Bank several times in the past, is working with the bank on the proposed capital raising. While the exact timeline is not yet clear, the report said the bank aims to complete the process in the next one to two months, possibly by the end of January. A banker said the bank will not raise capital below book value.

Share Performance On Friday, IndusInd Bank shares were trading 2.94 percent higher at Rs 853.90. The bank's shares have declined 12.96 percent in the past year.

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