Indusind Bank Ltd opens QIP on June 25, 2015

Subsequent to the approval accorded by the Board of Directors of Indusind Bank Ltd, at its meeting held on April 16, 2015 and the approval of the shareholders of the Bank by resolution adopted through a postal ballot on June 08, 2015 for the QIP, the Finance Committee of the Bank on June 25, 2015 has passed the resolutions authorising the opening of the QIP on June 25, 2015 and approving the preliminary placement document dated June 25, 2015 in connection with the QIP, (the "Preliminary Placement Document") and also the approval of the floor price for the QIP.

Further the Company has informed that, the 'Relevant Date' for this purpose, in terms of Regulation 81(c)(i) of the SEBI ICDR Regulations, is June 25, 2015 and accordingly the floor price in respect of the aforesaid QIP, based on the pricing formula as prescribed under Regulation 85(1) of the SEBI ICDR Regulations is Rs. 821.54 per Equity Share. Pursuant to Regulation 85 of the SEBI ICDR Regulations, the Bank may offer a discount of not more than 5% on the floor price so calculated for the QIP.

Shares of INDUSIND BANK LTD. was last trading in BSE at Rs.859.3 as compared to the previous close of Rs. 866.5. The total number of shares traded during the day was 123202 in over 3530 trades.

The stock hit an intraday high of Rs. 863.6 and intraday low of 840.85. The net turnover during the day was Rs. 105335464.

Source : Equity Bulls

Keywords