IndusInd Bank raises Rs 2,021 Cr via conversion of warrants
By IANS |
Published on
Thu, Feb 18 2021 14:48 IST |
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Mumbai, Feb 18 : IndusInd Bank has raised Rs 2,021 crore of common equity capital through conversion of preferential warrants issued to the promoter entities.
Accordingly, IndusInd International Holdings Limited (IIHL) and IndusInd Limited (IL) were issued the preferential warrants.
The warrants were issued as an integral part of the merger with Bharat Financial Inclusion Limited in July 2019.
At the time of subscription to the warrants, the promoter entities had paid Rs 673 crore and the balance amount of Rs 2,021 crore was paid on Thursday.
IndusInd Bank raises Rs. 2021 crores common equity via conversion of warrants issued to the Promoters
Posted On: 2021-02-17 23:57:33 (Time Zone: Arizona, USA)
IndusInd Bank today raised Rs 2021 crores 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 2021 crores was paid today.
The finance committee of the Bank today approved allotment of 1,57,70,985 shares to thePromoter entities. The warrants are converted at a price of Rs 1,709 per share reflecting a premium of 65% over the closing price on February 17, 2021.
Read more about IndusInd Bank gets Rs 2,021 crore capital boost from promoters on Business Standard. The firm has received Rs 2,021 crore equity from the promoters after the conversion of preferential warrants into equity shares