Indusind Bank QIP issue priced at Rs 77.50

Indusind Bank Ltd has announced that in respect of issue of Equity Shares of Face Value of Rs 10/- each in the Company ("Equity Shares) to QIB's under Qualified Institutional Placement in terms of Chapter XIII-A of Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines, the Finance Committee of the Board of Directors has approved the issuance of up to 54,897,140 Equity Shares (including a premium Rs 77.50 per Equity Share) aggregating to Rs 4,803,499,750.00 to Qualified Institutional Buyers. In addition, the Bid Closing Date is August 13, 2009. The Placement Document in this regard will also be filed.

The stock was trading at Rs.93.10, up by Rs.3.05 or 3.39%. The stock hit an intraday high of Rs.94.75 and low of Rs.90.90.

The total traded quantity was 839405 compared to 2 week average of 565625.

Source : Equity Bulls

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