IndusInd Bank promoters to retain stake at 15% post QIP

IndusInd Bank today approved a preferential equity issue of up to 1.5 per cent to its promoters IIHL to ensure their holding does not fall below 15 per cent, after an upcoming institutional placement of shares, in which it is planning to raise Rs 4,800 crore.
The bank's board approved a preferential allotment of equity shares to promoters IndusInd International Holdings (IIHL), a Hinduja Group company, of up to 1.5 per cent of the authorised equity share capital, the private lender said in a BSE filing.
This is being done to ensure the aggregate holding of the promoters is retained at 15 per cent after the proposed share sale, it added.

The bank is reportedly planning to raise up to Rs 4,800 crore via QIP route.
Earlier this week, the shareholders approved issuing shares of up to 10 per cent of the share capital, IndusInd Bank said.
The company's scrip closed 3.04 per cent down at Rs 795.30 apiece on the BSE, whose benchmark index lost 1.75 per cent.