This banks board approves borrowing up to Rs 20,000 crore; announces dividend record date

Subject to required regulatory permissions, the amount may also be raised in foreign currencies, its board stated in an exchange filing.

Today, India's major indices concluded with slight gains after robust sessions that mirrored the optimism in the US and Asian markets. BSE Bankex was one of the top gaining sectors on BSE. Nifty Bank also gained more than a per cent with Federal Bank, Bank of Baroda, and Bandhan Bank leading the way.   

As the board of the private sector lender bank namely, Induslnd Bank approved borrowing up to Rs 20,000 crore through the issue of debt on a private placement basis, its shares also surged more than 2 per cent on BSE. Subject to required regulatory permissions, the amount may also be raised in foreign currencies, its board stated in an exchange filing.  

The bank has also fixed August 12, 2022, as the record date for the purpose of ascertaining voting rights of the members at the 28th annual general meeting (AGM) as well as for entitlement of dividends, if approved by members. The bank has declared a dividend of Rs 8.50 per share of the face value of Rs 10 each.  

Keep a close eye on this scrip for the upcoming sessions.