ING Vysya Bank raises Rs 230 cr through QIP issue

ING Vysya Bank Ltd has raised Rs 230 crore by issuing 9.27 million equity shares of Rs 10 each at a price of Rs 248.10 per equity share including a premium of Rs 238.10 per equity share to qualified institutional buyers (QIBs). The issue was closed on September 8, 2009.

According to a press release issued by the bank, the committee of the board of directors has approved the issue of shares to QIBs.

The bank has further informed BSE that the floor price in respect of the aforesaid Qualified Institutions Placement, based on the pricing formula as prescribed under Regulation 85 (1) SEBI (Issue of capital and Disclosure Requirements) Regulations, 2009 is Rs 248.09 per equity share, and the Relevant Date for this purpose, in terms of Regulation 81(c) (i) SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009, is September 7, 2009.