IndusInd Bank raises Rs 2,000 cr thru QIP

IndusInd Bank raised Rs 2,000 crore ($369.11 million) to conclude its third qualified institutional placement (QIP), the bank informed the BSE on Tuesday.

The bank allotted a total of 5.21 crpre new equity shares. These shares constitute 9.98 per cent of the total equity shares of the bank following the QIP issue, which was launched on November 26.

The QIP issue was priced at Rs 384 an equity share equivalent to 2.7 per cent premium to a floor price of Rs 374.05, the private sector bank said in a statement.

Romesh Sobti, CEO and Managing Director, said, “Although the bank is well capitalised, this equity raising will ensure that its growth continues apace.” On Tuesday, the shares of IndusInd Bank ended lower by 1.27 per cent at Rs 411.90 on the BSE.

Beena.parmar@thehindu.co.in