IndusInd Bank raises $253 mn through second Qualified Institutional Placement offer

Mumbai, Sep 29 (Calcutta Tube) IndusInd Bank Monday said it has raised $253 million through its second Qualified Institutional Placement (QIP) offer.

‘This second QIP offering has made the bank well capitalised and it will now meet our major growth aspiration,’ said Romesh Sobti, managing director and chief executive of the bank.

The QIP issues was opened Sep 15 making Rs.234.55 per share as compared to Rs.87.50 per share in the last issue in Aug 2009.

According to the private lender, the $253 million, raised through the QIP issue, represents 13.39 percent of the post-equity capital of the bank.

The banks scrip closed at 1.44 percent up on the Bombay Stock Exchange (BSE) at Rs.260.25, from the intra-days high of Rs.262.40.

The bank which commenced operations in 1994 has 2.08 million customers, 224 branches including in London and Dubai, as well as 533 Automated Teller Machines(ATMs).

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