Leading private sector bank, IndusInd Bank, is working out plans to raise funds worth $75-100-million through Qualified Institutional Placement (QIP), considering it the most transparent way to raise funds from the market.

Romesh Sobti, the Managing Director and CEO of bank, said: "We are looking at raising around $75-100-million via QIP, which is more transparent. It would mean dilution of may be between 10-15 per cent."

He declined to divulge the exact date for offer, but hinted that it may happen within the current fiscal, in order to arrange more capital.

Mr. Sobti expressed satisfaction over the bank's performance and added that all its operations performed well in the first quarter, enabling it to report a significant increase in its net profit and income.

He said that the Hinduja Group-promoted bank, managed to achieve significant reduction in its non performing assets (NPA) that led to better margin during the period.

The bank also raised funds in previous years, selling global depository receipts to generate capital around Rs 220 crore last year and Rs 147 crore in 2007.