Image Source : The Economic Times
IndusInd Bank Ltd has initiated key structural changes, including a leadership transition and a major capital raise, aimed at strengthening governance and funding future growth.
Leadership update:
- Jayant Deshmukh has officially ceased to serve as Non-Executive Independent Director on the bank’s board
- Deshmukh, a veteran in agriculture and rural finance, had joined the board in July 2021 and chaired the CSR Committee
- His exit comes amid broader board-level changes following governance reviews
Capital augmentation plan:
- The bank will raise up to Rs 100 billion through equity issuance or placement of securities
- This is part of a larger Rs 300 billion fundraising strategy, which includes Rs 200 billion via debt on a private placement basis
- The capital will support balance sheet expansion, regulatory buffers, and strategic investments
Strategic context:
The move follows recent leadership exits and aims to restore investor confidence after derivative accounting lapses.
Sources: Economic Times, Yahoo Finance, MarketScreener, IndusInd Bank official filings, Business Standard
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