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IndusInd Bank approves allotment of shares on preferential basis

Capital Market 

IndusInd Bank said it has on Wednesday approved the allotment of shares worth Rs 2495.79 crore to a clutch of institutional investors.

IndusInd Bank said it has approved the allotment of 4.76 crore shares at Rs 524 per share on a preferential basis, for an aggregate consideration of Rs 2495.79 crore. Route One Offshore Master Fund L.P. was allotted 1.06 crore shares, Route One Fund I L.P. was allotted 71.59 lakh shares, ICICI Prudential Life Insurance Company was allotted 1.62 crore shares, Tata Investment Corporation was allotted 57.25 lakh shares and AIA Company was allotted 78.30 lakh shares.

Consequently, the issued, subscribed and paid-up equity share capital of the bank stands increased from the present level of Rs 693.56 crore to Rs 741.19 crore.

The announcement was made after market hours yesterday, 2 September 2020. Shares of IndusInd Bank rose 2.08% to settle at Rs 640.75 yesterday.

IndusInd Bank caters to the needs of both consumer and corporate customers. As of 31 March 2020, the bank's distribution network included 1,911 branches/banking outlets and 2,760 onsite & offsite ATMs across 751 geographic locations.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Thu, September 03 2020. 08:47 IST