Indian Bank closes QIP, raises Rs. 1650 crore

The Committee of Directors of Indian Bank on Capital Raising ("Committee") in its meeting held today i.e. June 24, 2021 has, approved the closure of the issue period for the Issue today i.e. June 24, 2021 subsequent to the receipt of application forms for an amount aggregating to Rs.1650 crore from eligible Qualified Institutional Buyers in accordance with the terms of the Issue, which was opened on June 21, 2021.

The committee has determined and approved the issue price of Rs.142.15 per Equity Share of Rs.10 each (including a premium of Rs.132.15 per Equity Share) determined as per Regulation 176(1) of SEBI ICDR Regulations for the Equity Shares to be allotted to the eligible Qualified Institutional Buyers in the Issue.

Shares of INDIAN BANK was last trading in BSE at Rs.147.4 as compared to the previous close of Rs. 149.3. The total number of shares traded during the day was 89663 in over 1121 trades.

The stock hit an intraday high of Rs. 150.55 and intraday low of 146.4. The net turnover during the day was Rs. 13286211.

Source : Equity Bulls

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