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IndusInd founders led by brothers Srichand and Gopichand Hinduja had raised about $300 million in February by pledging about 36% of their stake in the the bank. ....
IndusInd Bank promoters' stake increases marginally - The Hindu BusinessLine thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
Explore Now Mumbai: lnduslnd Bank promoters IndusInd International Holdings Ltd (IIHL) have converted warrants in the bank at a 60 percent premium to Tuesday s closing price investing Rs 2,021 crores, putting to rest doubts on whether the Hinduja- backed company had the financial muscle to keep capitalising its crown jewel. The investment was done by raising funds through a rights share sale to the holders of IIHL and from sale of some assets that the company held. Furthermore, pledging a portion of the bank s shares with banks which made investors wary was to create a war chest for IIHL that is preparing to list itself. Hindujas said the pledge doesn’t reflect the financial strength of the business family. ....
lnduslnd International Holdings Ltd (IIHL), the promoter company of lnduslnd Bank, has completed its capital raise through a rights issue at an overwhelming premium of 1,400 per cent towards subscription. This reiterates the confidence of IIHL s global shareholders spread across 34 countries in the decision of IIHL and its subsidiary IndusInd Ltd to redeem the balance 75 per cent of warrants at a price of Rs 1709 per share (a huge premium over the current market price of Rs 1,059) aggregating to Rs 2,021.45 crore, it said in a statement. To support the redemption of warrants, IIHL has decided to monetise some of the other mature, non-core investments. The funds from this divestment and the rights issue will be remitted on or before February 18 as permitted by the Securities and Exchange Board of India (SEBI). ....
IndusInd Bank promoters complete capital raise through rights issue ANI | Updated: Feb 17, 2021 13:45 IST Port Louis [Mauritius], February 17 (ANI): lnduslnd International Holdings Ltd (IIHL), the promoter company of lnduslnd Bank, has completed its capital raise through a rights issue at an overwhelming premium of 1,400 per cent towards subscription. This reiterates the confidence of IIHL s global shareholders spread across 34 countries in the decision of IIHL and its subsidiary IndusInd Ltd to redeem the balance 75 per cent of warrants at a price of Rs 1709 per share (a huge premium over the current market price of Rs 1,059) aggregating to Rs 2,021.45 crore, it said in a statement. ....