Promoters inject Rs 2,021 crore in IndusInd Bank via conversion of warrants
IndusInd Bank said that the warrants were converted at a price of Rs 1,709 per share reflecting a premium of 65 per cent over Wednesday s closing price of Rs 1,032.60
BusinessToday.In | February 18, 2021 | Updated 18:34 IST
IndusInd Bank raises Rs 2,021 crore of common equity capital
Private lender IndusInd Bank on Thursday said it has raised Rs 2,021 crore of common equity capital through conversion of preferential warrants issued to the Promoter entities - IndusInd International Holdings Limited (IIHL) and IndusInd Limited (IL). The warrants were issued as an integral part of the merger with Bharat Financial Inclusion Limited in July 2019. The Promoter entities had paid Rs 673 crores at the time of subscription to the warrants and the balance amount of Rs 2,021 crore was paid today, the lender said in an exchange filing.
IndusInd Bank raises ₹2,021cr of common equity capital through conversion of preferential warrants
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IndusInd Bank raises Rs 2,021 Cr via conversion of warrants
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Promoters inject Rs 2,021 crore in IndusInd Bank via conversion of warrants
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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.