Induslnd Bank raises $100 mn through QIP
Private sector Induslnd Bank on Thursday said it has concluded its first qualified institutional placement (QIP) offering of $100 million.
By PTI |
MUMBAI: Private sector Induslnd Bank on Thursday said it has concluded its first qualified institutional placement (QIP) offering of $100 million. (Watch)
The issue, which opened on August 11, received a strong response from investors and was over-subscribed, a release issued here said.
"The QIP offering has made the bank well-capitalised and it will now meet our growth aspirations. The response from institutional investors was very encouraging and most of them are long-term investors," IndusInd Bank's Managing Director and CEO Romesh Sobti said.
The price per share has been fixed at Rs 87.50 per share of face value of Rs 10 each for QIP offering. The $100 million amount raised represents 13.39 per cent of the post- offer equity capital of the bank, the release said.
The total share capital will increase to Rs 410 crore. The bank's net worth has now crossed Rs 2,000 crore mark, the release said.
The issue, which opened on August 11, received a strong response from investors and was over-subscribed, a release issued here said.
"The QIP offering has made the bank well-capitalised and it will now meet our growth aspirations. The response from institutional investors was very encouraging and most of them are long-term investors," IndusInd Bank's Managing Director and CEO Romesh Sobti said.
The price per share has been fixed at Rs 87.50 per share of face value of Rs 10 each for QIP offering. The $100 million amount raised represents 13.39 per cent of the post- offer equity capital of the bank, the release said.
The total share capital will increase to Rs 410 crore. The bank's net worth has now crossed Rs 2,000 crore mark, the release said.
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