Advertisement

Home / Business / IndusInd Bank to raise funds

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
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

Our Special Correspondent   |   Mumbai   |   Published 29.07.20, 03:52 AM

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.

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.

Advertisement


Advertisement
Advertisement
Advertisement
 
 
 
Copyright © 2020 The Telegraph. All rights reserved.