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 Bank promoters conclude fundraise through rights issue
Funds from this disinvestment and rights issue will be remitted on or before February 18, 2021, as allowed by SEBI, the IndusInd Bank said
BusinessToday.In | February 17, 2021 | Updated 12:47 IST
The promoters stake would touch 15 per cent once they infuse additional capital into IndusInd Bank
IndusInd International Holdings Ltd (IIHL), the promoter company of IndusInd Bank, has concluded fundraise process through a rights issue, which was oversubscribed.
The company raised the capital at an overwhelming premium of 1,400 per cent the subscription of this rights issue, the bank said in a statement to the stock exchanges.