Latest news with #IndusIndBank
Economic Times
2 hours ago
- Business
- Economic Times
IndusInd Bank shares in focus after board approves Rs 30,000-crore fundraising plan
IndusInd Bank shares will be in focus on Thursday after the bank's board of directors approved a fundraising plan of up to Rs 30,000 crore on Wednesday. ADVERTISEMENT According to an exchange filing, the bank will raise Rs 20,000 crore via debt securities, either in Indian currency or in permitted foreign currencies through private placement. Additionally, it will raise Rs 10,000 crore through equity instruments such as Qualified Institutional Placement (QIP), American Depository Receipts (ADR), or Global Depository Receipts (GDR). The fundraising comes in the backdrop of a $230 million hit to the bank's net worth in the fiscal year ended March 31, due to misaccounting of internal derivative trades over several years. This issue led to the resignations of CEO Sumant Kathpalia and Deputy CEO Arun Khurana in April. The UK-based Hinduja family, which holds a 15.82% stake in the bank and is classified as a promoter group, has now been allowed to nominate up to two directors on the board, following approval from the Reserve Bank of India. Promoters previously had no board representation. IndusInd Bank is currently being run by an executive committee. As per a Reuters report, the bank has shortlisted Rajiv Anand, Rahul Shukla, and Anup Saha as potential candidates for the CEO position. Notably, Saha resigned as Managing Director of Bajaj Finance earlier this week. IndusInd Bank is scheduled to announce its Q1 results on July 28. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
2 hours ago
- Business
- Time of India
IndusInd Bank Share Price Live Updates: IndusInd Bank shares in focus after board approves Rs 30,000-crore fundraising plan
24 Jul 2025 | 09:26:28 AM IST Discover the IndusInd Bank Stock Liveblog, your ultimate resource for real-time updates and insightful analysis on a prominent stock. Keep track of IndusInd Bank with the latest details, including: Last traded price 851.7, Market capitalization: 66309.34, Volume: 334130, Price-to-earnings ratio 25.75, Earnings per share 33.06. Our comprehensive coverage combines fundamental and technical indicators to provide you with a comprehensive view of IndusInd Bank's performance. Stay informed about breaking news that can sway IndusInd Bank's trajectory in the market. With our expert insights and stock recommendations, make well-informed financial decisions. Join us on this journey as we explore the exciting potential of IndusInd Bank. The data points are updated as on 09:26:28 AM IST, 24 Jul 2025 Show more
Time of India
2 hours ago
- Business
- Time of India
IndusInd Bank shares in focus after board approves Rs 30,000-crore fundraising plan
IndusInd Bank shares will be in focus on Thursday after the bank's board of directors approved a fundraising plan of up to Rs 30,000 crore on Wednesday. According to an exchange filing, the bank will raise Rs 20,000 crore via debt securities, either in Indian currency or in permitted foreign currencies through private placement. Additionally, it will raise Rs 10,000 crore through equity instruments such as Qualified Institutional Placement (QIP), American Depository Receipts (ADR), or Global Depository Receipts (GDR). Explore courses from Top Institutes in Please select course: Select a Course Category Cybersecurity Leadership Operations Management Data Science Healthcare Digital Marketing Project Management Product Management PGDM Design Thinking Management Data Analytics Data Science Public Policy others Others Degree Technology healthcare Artificial Intelligence CXO Finance MCA MBA Skills you'll gain: Duration: 10 Months MIT xPRO CERT-MIT xPRO PGC in Cybersecurity Starts on undefined Get Details The fundraising comes in the backdrop of a $230 million hit to the bank's net worth in the fiscal year ended March 31, due to misaccounting of internal derivative trades over several years. This issue led to the resignations of CEO Sumant Kathpalia and Deputy CEO Arun Khurana in April. The UK-based Hinduja family, which holds a 15.82% stake in the bank and is classified as a promoter group, has now been allowed to nominate up to two directors on the board, following approval from the Reserve Bank of India . Promoters previously had no board representation. IndusInd Bank is currently being run by an executive committee. As per a Reuters report, the bank has shortlisted Rajiv Anand, Rahul Shukla, and Anup Saha as potential candidates for the CEO position. Notably, Saha resigned as Managing Director of Bajaj Finance earlier this week. IndusInd Bank is scheduled to announce its Q1 results on July 28. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
India.com
3 hours ago
- Business
- India.com
IndusInd Bank To Raise Rs 30,000 Crore Via Debt, Equity Mix
Mumbai: The Hinduja family-promoted IndusInd Bank's Board of Directors on Wednesday approved raising up to Rs 30,000 crore through a combination of debt and equity and allowed the promoters to nominate two board directors, as it seeks to restore confidence in its operations after the recent Rs 2,000 crore accounting lapse. The lender will raise Rs 20,000 crore through debt securities in any permitted mode on a private placement basis, or its equivalent amount in permitted foreign currencies. It will also augment the capital base via the issue of securities, including American Depository Receipts, Global Depository Receipts, and Qualified Institutional Placement, amounting to Rs 10,000 crore. The bank said after the approval of the RBI, it will make amendments in its Articles of Association to give its promoters, the Hinduja family, the right to appoint two non-executive, non-independent Directors on the bank's board. The UK-based Hinduja family, which can now nominate up to two directors on IndusInd's board, did not previously have any representation on the board. Earlier this year, IndusInd Bank made a disclosure of accounting lapses in its derivatives portfolio. The bank appointed external agencies to assess the financial impact, which was later revealed to be around Rs 2,000 crore, and to find the root cause of the accounting errors. The bank's net worth took a big hit as the misaccounting of internal derivative trades was exposed. Taking moral responsibility for the lapses, the bank's CEO, Sumath Kathpalia, resigned in April, just a day after its former deputy CEO, Arun Khurana, left the bank. The Mumbai-based private lender reported a net loss of Rs 2,328 crore for the January-March period as accounting issues and stress in the microfinance portfolio led to the balance sheet taking a hit. IndusInd's Net Interest Income (NII) or core income declined by 43.4 per cent from the same quarter last year to Rs 3,048 crore. The asset quality of the bank deteriorated on a sequential basis, with Gross NPAs rising to 3.13 per cent of total loans from 2.25 per cent in the preceding October-December quarter, while net NPAs for the quarter stood at 0.95 per cent, up from 0.68 per cent in the previous quarter.
News18
4 hours ago
- Business
- News18
Stocks To Watch: Infosys, Bajaj Finance, Nestle, IndusInd Bank, Natco Pharma, And Others
Last Updated: Stocks to watch: Shares of firms like Infosys, Bajaj Finance, Nestle, IndusInd Bank, Natco Pharma, and others will be in focus on Thursday's trade Stocks to watch on July 24, 2025: Indian markets closed higher in the previous session, rising over half a percent and offering a breather from recent declines. In today's trade, shares of Infosys, Bajaj Finance, Nestle, IndusInd Bank, and Inox Wind, among others, will be in focus amid a flurry of earnings announcements and key corporate developments. Bajaj Finance, Nestle, SBI Life, Adani Energy, Canara Bank, Motilal Oswal, and IEX are set to release their first-quarter results today, drawing investor attention. Infosys Infosys reported a net profit of Rs 6,921 crore for Q1FY26, an 8.7% year-on-year increase that beat market estimates. Revenue rose 7.5% YoY to Rs 42,279 crore, though operating margins declined to 20.8% from 21.1% a year ago. The company revised its FY26 revenue guidance upward to 1–3% in constant currency and noted that free cash flow dropped 17.7% YoY to Rs 7,533 crore but remained over 108% of net profit. IndusInd Bank IndusInd Bank's board approved fundraising of up to Rs 30,000 crore through a combination of debt and equity instruments, including Rs 20,000 crore via domestic or foreign debt securities and Rs 10,000 crore through QIP, ADR, or GDR routes. BEML BEML secured a Rs 293.82 crore order from the Ministry of Defence for High Mobility Vehicles (HMV) 6×6, used in military logistics and support. Oracle Financial Services Oracle Financial Services Software posted a 4% YoY rise in net profit to Rs 641.9 crore and a 6.4% growth in revenue to Rs 1,852 crore. Inox Wind Inox Wind received board approval for a Rs 1,249.33 crore rights issue, offering shares at Rs 120 apiece, with a rights entitlement ratio of 5:78 and July 29 as the record date. Dr. Reddy's Laboratories Dr. Reddy's Laboratories reported a marginal 1.26% rise in Q1 net profit to Rs 1,409.6 crore, with revenue up 11.4% to Rs 8,545.2 crore. Bajaj Housing Finance Meanwhile, Bajaj Housing Finance, a unit of Bajaj Finance, reported a 33.4% YoY increase in net interest income to Rs 887 crore and a 21% jump in net profit to Rs 583 crore, while maintaining strong asset quality with gross NPAs at 0.3% and net NPAs at 0.13%. view comments Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
