IndusInd Bank allots 4,76,29,768 shars to 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 Qualified Institutional Buyers (QIBs), the Finance Committee of the Board of Directors of the Bank at its meeting held today, i.e., September 2, 2020, approved the allotment of 4,76,29,768 (Four Crores, Seventy-six Lakhs, Twenty-nine Thousand, Seven Hundred and Sixty-eight) equity shares of face value of INR 10 each ("Equity Share") at a price of INR 524 (Indian Rupees Five Hundred and Twenty Four) per Equity Share (including a premium of INR 514 (Indian Rupees Five hundred and Fourteen) per Equity Share) on a preferential basis, for an aggregate consideration of INR 2495,79,98,432 (Indian Rupees Two Thousand Four Hundred and Ninety-Five Crores, Seventy Nine Lakhs, Ninety Eight Thousand, Four Hundred and Thirty Two) to the below entities:

Route One Offshore Master Fund, L.P. - Non-Promoter - Foreign Portfolio Investor - 1,06,93,264 shares
Route One Fund I, L.P. Non-Promoter - Foreign Portfolio Investor - 71,59,788 shares
ICICI Prudential Life Insurance Company Limited Non-Promoter - Insurance Company - 1,62,21,374 shares
Tata Investment Corporation Limited - Non-Promoter - NBFC registered with RBI 57,25,190 shares
AIA Company Limited - Non-Promoter - Foreign - 78,30,152 shares

Consequently, the issued, subscribed and paid-up equity share capital of the Bank stands increased from the present level of INR 693,56,60,380 (divided into 69,35,66,038 equity shares of face value of INR 10 each) to INR 741,19,58,060 (divided into 74,11,95,806 equity shares of face value of INR 10 each).

Shares of INDUSIND BANK LTD. was last trading in BSE at Rs.640.75 as compared to the previous close of Rs. 627.7. The total number of shares traded during the day was 1172619 in over 24377 trades.

The stock hit an intraday high of Rs. 650.65 and intraday low of 614.25. The net turnover during the day was Rs. 740477709.

Source : Equity Bulls

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