This Article is From Aug 12, 2015

IndusInd Bank Raises Rs 5,081 Cr via Shares

IndusInd Bank Raises Rs 5,081 Cr via Shares
New Delhi: IndusInd Bank on Wednesday said it has raised Rs 5,081 crore through six crore new shares via qualified institutional placement (QIP) and preferential routes.

"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 filing to the BSE.

The raised capital will be used to support bank's growth and also augment total capital adequacy ratio, it added.

The QIP issue addressed to foreign and domestic institutional investors was priced at 2.9 per cent premium to the Securities and Exchange Board of India-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," the filing said.

Shares in IndusInd Bank, on Wednesday, ended over 4 per cent lower at Rs 910.55 apiece on the BSE.