MUMBAI: Private lender IndusInd Bank Ltd is in discussions with at least three strategic investors including Japan's Nippon Life as the bank plans to raise more than $500 million to shore up its balance sheet, said two people aware of the development.
The talks with these strategic investors follows the bank's earlier efforts to tap financial players such as private equity (PE) and pension funds and sovereign investors for fundraising.
Mint had reported on 6 April that IndusInd Bank was in talks with Canada’s largest pension fund manager, Canada Pension Plan Investment Board (CPPIB), and Singapore’s state investor, GIC, among others, for capital infusion.