IndusInd Bank raises Rs 5,081-cr via QIP, preferential issue

Image
Press Trust of India New Delhi
Last Updated : Aug 12 2015 | 3:13 PM IST
IndusInd Bank today said it has raised Rs 5,081 crore by issuing six crore new shares via QIP and preferential issuances.
"With the completion of the preferential issue of promoters, IndusInd Bank has, in combination with the recent QIP issue, successfully raised Rs 5,081 crore of common equity through issuance of 6 crore new shares," the bank said in a BSE filing.
The raised capital will be used to support bank's growth and also augment total capital adequacy ratio, it added.
The Qualified Institutional Placement (QIP) issue addressed to foreign and domestic institutional investors was priced at 2.9 per cent premium to the Sebi determined floor price of Rs 845 per share, the bank said.
"The Preferential Issue for promoters, namely IndusInd International Holdings Ltd and its subsidiary IndusInd Ltd, was priced at the higher of the QIP prices and the Sebi determined floor prices as applicable to preferential allotments at Rs 857.20 per share," it said in the filing.
Shares of the bank were trading at Rs 932.40 a piece on BSE, down 1.90 per cent.
*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Aug 12 2015 | 3:13 PM IST

Next Story