IndusInd Bank will consider a proposal to raise funds by issuing long-term bonds at its board meeting on July 23, the Indian lender said on Friday.
The board will consider issuing the bonds on a private placement basis and whether to increase capital through depository receipts and qualified institutional placements.
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.
It has shortlisted senior bankers from three other financial organizations, including HDFC Bank, for the position of CEO, Reuters reported in June.
Reuters
