IIHL s Rights Issue oversubscribed for the redemption of balance 75% warrants of IndusInd Bank
Posted On: 2021-02-16 20:32:24 (Time Zone: Arizona, USA)
IndusInd International Holdings Ltd. (IIHL), the promoter company of IndusInd Bank, confirms that it has completed its capital raise through its Rights Issue which was oversubscribed. IIHL raised capital at an overwhelming premium of 1400% towards the subscription of this Rights issue. This reiterates the confidence of IIHL s global shareholders, spread across 34 countries, in the decision of IIHL and its subsidiary, IndusInd Limited, to redeem the balance of 75% of the warrants at the price of Rs. 1709/- per share (a huge premium over the current market price of Rs 1059), aggregating to Rs. 2021.45 crores.
IndusInd International Holdings Ltd (IIHL), the promoter company of IndusInd Bank has completed raising capital through its rights issue which was oversubscribed, the bank said in a regulatory filing.IIHL raised capital at an overwhelming .
Feb 17 2021, 7:31 PM
February 17 2021, 11:04 AM
February 17 2021, 7:31 PM
(Bloomberg) The billionaire Hinduja family paid a premium to boost its stake in IndusInd Bank Ltd., a sign of confidence in the Indian private-sector lender as concerns over its asset quality ease.
(Bloomberg) The billionaire Hinduja family paid a premium to boost its stake in IndusInd Bank Ltd., a sign of confidence in the Indian private-sector lender as concerns over its asset quality ease.
IndusInd International Holdings Ltd., which represents the bankâs founding Hinduja clan, completed a rights issue to fund the conversion of warrants to shares in the Mumbai-based bank, it said in a statement late Tuesday. The warrants will be redeemed at 1,709 rupees a share, a 61% premium over Tuesdayâs close.
The Securities Appellate Tribunal has stayed an order passed by market regulator SEBI that had banned Future Retail Chairperson Kishore Biyani and some other promoters from the securities market for one year for alleged insider trading.