UBS and Government of Singapore invest in IndusInd Bank Rs 2000 crore QIP

MUMBAI: IndusInd Bank has raised Rs 2,000 crore through sale of shares to UBS, Government of Singapore, SBI Mutual Fund and HDFC Life at Rs 384 per share.

``The issue was well received by the investors with an order book of $1 billion. This capital should support the bank’s growth for the next three years,’’ said an investment banker in the know of the development. ``The fresh capital issue should lead to a 10% dilution in existing shareholding,’’ he said.

``The issue was placed at 3% premium to the floor price. Investors like UBS, Government of Singapore, HDFC Life and SBI Mutual fund have invested in the bank’s shares,’’ said another investment banker.

The bank stock hit a 52 week high of Rs 420 per share before closing the day at Rs 417 per share on the Bombay Stock Exchange.