IndusInd Bank shareholders need to remember two important dates over the next 10 days

IndusInd Bank Ltd., the Mumbai-based private lender has informed the exchanges that it will be holding a board meet on Wednesday, July 23 to consider various proposals.On July 23, the board will meet to consider and approve proposals related to issuing long-term bonds or debt securities in any permissible mode on a private placement basis. This will be subject to approval from the lender’s shareholders as well as other regulatory approvals as applicable, the exchange filing said.
The board will also consider and approve proposals related to augmentation of capital through further issue of placement of securities, including ADRs, GDRs, QIPs, as subject to approval from the shareholders and regulators.
Additionally, the board will meet on Monday, July 28, to consider its results for the April-June quarter.IndusInd Bank has been in the spotlight after its top management quit over the fourth quarter due to the accounting discrepancies that were discovered. The bank has formed an interim committee to oversee day to day operations, till a new MD & CEO is appointed.

Brokerage firm Nomura, in a note earlier, had highlighted that the lender will now begin the new financial year on a clean slate, with all the issues left behind and addressed in the previous financial year.

Shares of IndusInd Bank ended 1% higher on Friday at ₹874. The stock has recovered 44% from its 52-week low of ₹606, which it fell to during the accounting discrepancy saga.