New Delhi:Private sector lender IndusInd Bank on Wednesday said it has approved allotment of preferential shares to marquee investors to raise Rs 2,495.79 crore. The lender said the shares have been issued T a price of Rs 524 a piece.
In a regulatory filing, the bank said, “The Finance Committee of the board of directors at its meeting held on September 2, 2020, approved allotment of 4,76,29,768 equity shares of the face value of Rs 10 each at a price of Rs 524 per share on a preferential basis, for an aggregate consideration of Rs 24,95,79,98,432.”
The filing further said, “Consequently, the issued, subscribed and paid-up equity share capital of the bank stands increased from the present level of Rs 6,93,56,60,380 (divided into 69,35,66,038 equity shares of face value of Rs 10 each) to Rs 7,41,19,58,060 ( divided into 74,11,95,806 equity shares of face value of Rs 10 each),” the filing added.
The share allotment is part of bank’s resolution passed by shareholders in the extraordinary general meeting on August 25, 2020, for issuance of preferential equity shares to qualified institutional buyers (QIBs) and the promoters.
