August 21, 2019
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Indusind Bank In Talks For $750 Million Share Sale
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Indusind Bank is in talks with investment banks to arrange a share sale that could be worth $750 million, two sources directly involved in the deal said.
Morgan Stanley, CLSA, JM Financial and Credit Suisse are in the running to act as arrangers, these sources said, declining to be identified as they were not allowed to talk to the media.
Indusind Bank is looking to complete the share sale by the end of 2015, the sources added.
The bank had in May sought shareholder approval to augment its capital via the sale of up to 60 million shares, according to an exchange filing.
A spokesman on behalf of Credit Suisse did not offer immediate comments while spokeswoman on behalf of Morgan Stanley, JM Financial and CLSA did not immediately replied to email seeking comments.
An Indusind Bank spokesman did not immediately reply to an email seeking commen.
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