Indusind to issue GDR to augment its paid up equity capital

Mumbai, Feb 27 (UNI) Indusind Bank today announced its decision to go in for GDR to be listed at Luxembourg.

The Finance Committee of the Board of Directors, which had been authorised to decide on the terms to enhance the paid up capital, has approved issuance of 35.19 million fully paid up equity shares of the Bank underlying the like number of GDR, the Bank said in a release here.

After issuance of these equity shares, the Bank's paid up capital would be Rs 355 crore, the release said.

It added that the pricing and other details would be finalised by the Finance Committee shortly after appointment of, and in consultation with, the Lead Managers.

UNI VK NM SM1344