INDUSIND BANK LTD. - 532187 - Announcement under Regulation 30 (LODR)-Press Release / Media Release
IndusInd Bank raises Rs. 2,021 crores common equity via conversion of warrants issued to the Promoters IndusInd Bank has today raised Rs. 2,021 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. 2,021 crores was paid today. The Finance Committee of the Bank today approved allotment of 1,57,70,985 shares to the Promoter 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, 2021.18-02-2021