IndusInd Bank allots shares to Non-QIBs

Pursuant to the Resolution passed by the Shareholders of IndusInd Bank in the Extraordinary General Meeting held on August 25, 2020, on issuance of Equity Shares on Preferential Basis to Non-Qualified Institutional Buyers (Non-QIBs), the Finance Committee of the Board of Directors of the Bank at its meeting held today, September 4, 2020, has approved the allotment of 1,51,17,477 (One crore, Fifty-one lakhs, Seventeen thousand, Four hundred and Seventy-seven) equity shares of face value of INR 10 each ("Equity Share"), at a price of INR 524 (Indian Rupees Five hundred and twenty-four only) per Equity Share (including premium of INR 514 (Indian Rupees Five hundred fourteen only) per Equity Share, on preferential basis, for aggregate consideration of INR 792, 15,57,948 (Indian Rupees Seven hundred ninety-two crores, Fifteen lakhs, Fifty-seven thousand, Nine hundred and forty-eight only). The shares were allotted to:

IndusInd International Holdings Ltd - Non-QIB - Promoter - 94,13,661 shares

Hinduja Capital Limited - Non-QIB - Non- Promoter - 57,03,816 shares

Consequently, the issued, subscribed and paid-up equity share capital of the Bank stands increased from the present level of INR 741,19,58,060 (divided into 74,11,95,806 equity shares of face value of INR 10 each) to INR 756,31,32,830 (divided into 75,63,13,283 equity shares of face value of INR 10 each).

Shares of INDUSIND BANK LTD. was last trading in BSE at Rs.631.1 as compared to the previous close of Rs. 640.75. The total number of shares traded during the day was 731017 in over 15743 trades.

The stock hit an intraday high of Rs. 648.15 and intraday low of 625. The net turnover during the day was Rs. 464433410.

Source : Equity Bulls

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