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Regular-article-logo Saturday, 11 May 2024

IndusInd Bank to raise funds

The lender will collect Rs 3,288 crore through a preferential issue at a price of Rs 524 per share

Our Special Correspondent Mumbai Published 29.07.20, 03:52 AM
The bank will issue 71.5 lakh shares aggregating Rs 375 crore to Route One Fund I LP and 1 crore shares to Route One Offshore Master Fund LP worth Rs 560 crore

The bank will issue 71.5 lakh shares aggregating Rs 375 crore to Route One Fund I LP and 1 crore shares to Route One Offshore Master Fund LP worth Rs 560 crore Shutterstock

IndusInd Bank is raising fresh capital of Rs 3,288 crore through a preferential issue at a price of Rs 524 per share.

The shares will be issued to five marquee investors and the promoters. The bank will issue 71.5 lakh shares aggregating Rs 375 crore to Route One Fund I LP and 1 crore shares to Route One Offshore Master Fund LP worth Rs 560 crore.

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IndusInd will sell 1.6 crore shares to ICICI Prudential Life Insurance Company worth Rs 850 crore and 57 lakh shares to Tata Investment aggregating Rs 300 crore. AIA Company will get 78 lakh shares aggregating Rs 410 crore.

Among the promoter entities, Hinduja Capital Limited will get 57 lakh shares worth Rs 299 crore; and IndusInd International Holdings will get 94 lakh shares worth Rs 493 crore. In all, the lender will issue 6.2 crore shares.

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