INDUSIND BANK HAS RAISED RS. 2021 CRORE OF COMMON EQUITY CAPITAL

IndusInd Bank was trading at Rs.1058.90,up by 12.85 points or 1.23% .It hit 52 week high of Rs.1203.95 and low of Rs.235.55.Market Capitalisation of the bank was at Rs.80,228.04 crore.

The Bank has received Rs 2,021 crore equity from the promoters after the conversion of preferential warrants into equity shares.

The warrants were issued as an integral part of the merger with Bharat Financial Inclusion Limited in July 2019. The Promoter entities had paid ₹673 crores at the time of subscription to the warrants and the balance amount of ₹2021 crores was paid today.

The finance committee of the Bank today approved allotment of 1,57,70,985 shares to the Promoter entities. The warrants are converted at a price of ₹1,709 per share reflecting a premium of 65% over the closing price on February 17, 2021.