Indusind Issue Subscribed Twice

The maiden issue of IndusInd Bank, aggregating to Rs 180 crore, has received an over subscription of two times as of yesterday evening.

The bank received over 45,000 applications, sources said. The issue which opened for subscription on December 25, accepted 50 per cent of payment on application and another 50 per cent on allotment. It collected about 180 crore as of yesterday evening which includes subscription from four to five banks andfinancial institutions, said sources.

The issue was priced at Rs 45 which includes Rs 35 as premium. The issue, slated to close on December 2, this year has received good response from Gujarat and the southern part of the country.