• Politics
  • Business
  • World
  • Science
  • Startup
  • Health
  • Travel
  • Economy
  • Top Story
Aryavarth News
  • Home
  • Politics
  • City News
  • Top Story
  • Editorial
Sunday, March 19, 2023
No Result
View All Result
Aryavarth News
No Result
View All Result

IndusInd Bank promoters complete fund raising via rights issue

IIHL raised capital at an overwhelming premium of 1,400 per cent towards the subscription of this rights issue, it said.

IndusInd Bank promoters complete fund raising via rights issue
368
VIEWS
Share on WhatsappShare on FacebookShare on TwitterShare on Telegram

Mumbai,  (Aryavarth) IndusInd International Holdings Ltd (IIHL), the promoter company of IndusInd Bank has completed raising capital through its rights issue which was oversubscribed, the bank said in a regulatory filing.

IIHL raised capital at an overwhelming premium of 1,400 per cent towards the subscription of this rights issue, it said.

RelatedPosts

No Content Available

“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 per cent of the warrants at the price of Rs 1,709 per share (a huge premium over the current market price of Rs 1,059), aggregating to Rs 2,021.45 crores,” it said.

Additionally, to support the redemption of warrants, IIHL has decided to monetize some of the other mature, non-core investments.

The funds from this divestment and the rights issue will be remitted on or before the February 18, as permitted by SEBI.

Earlier 25 per cent warrants were subscribed to in July 2019 on payment of Rs 673.8 crore, amounting to 25 per cent of the offer price of Rs 1,709.

The filing said that this would lead to IIHL shoring up additional equity of 1.7 per cent in lnduslnd Bank thereby bringing promoter equity to 15 per cent on a diluted basis.

Tags: #IndusIndBank
SendShare34Tweet21Share

Related Posts

No Content Available
Aryavarth News

Copyright © 2022 Aryavarth Publication Pvt Ltd.

Navigate Site

  • About
  • Advertise
  • Privacy & Policy
  • Contact

Follow Us

No Result
View All Result
  • Politics
  • Business
  • World
  • Science
  • Startup
  • Health
  • Travel
  • Economy
  • Top Story

Copyright © 2022 Aryavarth Publication Pvt Ltd.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.