Indusind Bank Ltd approves QIP 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 V 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 of the Bank at its meeting held on September 24, 2010, has approved the allotment 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) on September 24. 2010. aggregating to Rs. 11,727.50 million to QIBs.

The stock was trading at Rs.260.25, up by Rs.3.70 or 1.44%. The stock hit an intraday high of Rs.262.40 and low of Rs.255.

The total traded quantity was 6.36 lakhs compared to 2 week average of 4.41 lakhs.

Source : Equity Bulls

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