IndusInd Bank fell 0.94% to Rs 856.60 at 11:44 IST on BSE after the bank launched a share sale to institutional investors and set the floor price at the discount to the ruling market price.
Meanwhile, the BSE Sensex was down 104.25 points, or 0.37%, to 27,791.72.
On BSE, so far 1.09 lakh shares were traded in the counter, compared with an average volume of 1.18 lakh shares in the past one quarter.
The stock hit a high of Rs 873.40 and a low of Rs 855.45 so far during the day. The stock hit a record high of Rs 966.90 on 15 April 2015. The stock hit a 52-week low of Rs 527.80 on 18 July 2014.
The stock had outperformed the market over the past one month till 25 June 2015, rising 1.21% compared with 0.91% rise in the Sensex. The scrip had also outperformed the market in past one quarter, falling 0.65% as against Sensex's 0.77% fall.
The large-cap private sector bank has an equity capital of Rs 531.19 crore. Face value per share is Rs 10.
IndusInd Bank after market hours yesterday, 25 June 2015, announced that the Finance Committee of the bank yesterday, 25 June 2015, inter-alia passed the resolution authorising the opening of the Qualified Institutions Placement (QIP) yesterday, 25 June 2015. The floor price for the QIP has been fixed at Rs 821.54 per share. IndusInd Bank said that the bank may offer a discount of up to 5% on the floor price.
The floor price is 5% discount to yesterday's (25 June 2015) closing price of Rs 864.75. It is 4.09% discount to the ruling market price.
IndusInd Bank's net profit rose 25.1% to Rs 495.27 crore on 19.8% rise in total income to Rs 3237.43 crore in Q4 March 2015 over Q4 March 2014.
IndusInd Bank, which commenced operations in 1994, caters to the needs of both consumer and corporate customers. As on 31 March 2015, IndusInd Bank has 801 branches, and 1,487 ATMs spread across 514 geographical locations of the country. The bank also has representative offices in London, Dubai and Abu Dhabi.
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