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.
IndusInd Bank is set to discuss raising funds through long-term bonds at its upcoming board meeting on July 23. This consideration follows a $230 million loss due to past misaccounting, which led to the resignations of its CEO and deputy in April. The bank is also evaluating potential capital increases via depository receipts and qualified institutional placements.
It has shortlisted senior bankers from three other financial organizations, including HDFC Bank, for the position of CEO, Reuters reported in June.
(Reporting by Ananta Agarwal in Bengaluru; Editing by Sahal Muhammed)
