Private sector lender Indusind Bank today said the bid period for its Rs 480 crore private placement of shares with qualified institutional buyers (QIBs) closes today.

The board of directors have approved to issue 5,48,97,140 shares to QIBs at Rs 87.5 a piece, aggregating to Rs 480.34 crore, Indusind Bank said in a filing to the Bombay Stock Exchange (BSE).

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