Indusind Bank approves Qualified Institutions Placement of Equity Shares

Indusind Bank Ltd has announced that in respect of the issue of equity shares of face value of Rs. 10 each of the Company ("Equity Shares") to Qualified Institutional Buyers ("QIBs") under a Qualified Institutions Placement in terms of Chapter VIII of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended, the Finance Committee of the Board of Directors has approved the issuance of 50,000,000 Equity Shares at a price of Rs. 234.55 per Equity Share (including a premium of Rs. 224.55 per Equity Share), aggregating to Rs. 11,727.50 million to QIBs. In addition, please note that the Bid Closing Date is September 21, 2010.

The stock closed the day at Rs.265.90, up by Rs.0.55 or 0.21%. The stock hit an intraday high of Rs.273.90 and low of Rs.265.20.

The total traded quantity was 2.82 lakhs compared to 2 week average of 5.56 lakhs.

Source : Equity Bulls

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