IndusInd Bank said that it has received approval for issuance of long-term infrastructure bonds, and subordinated non-convertible debentures (NCDs) / bonds eligible to be included as additional Tier 1 (AT 1) and Tier 2 (T2) capital of the bank upto Rs 20 billion on private placement basis, as permissible under RBI guidelines.

The bank's board of directors at their meeting held on January 13, 2015 approved the proposal for issuance.

Approval of shareholders of the bank in terms of the provisions of Companies Act, 2013 is proposed to be obtained by way of postal ballot.

Shares of the company declined Rs 15.15, or 1.75%, to trade at Rs 850.45. The total volume of shares traded was 32,817 at the BSE (1.52 p.m., Thursday).