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IndusInd Bank on Friday said news reports iterating a fund raising exercise by the lender "are speculative and factually inaccurate."

In a clarification to the exchanges, the lender said that it will "categorically deny having any such discussions as reported in aforesaid media reports."

Reports on Friday had indicated that the bank was in the midst of raising funds through a qualified institutional placement. The bank is in discussions with merchant bankers, specifically Citi, according to these reports.

Some news reports cited this fund-raising exercise as confidence capital, after IndusInd Bank faced a reputational hit following multiple accounting troubles. In March, the bank's th

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