IndusInd Bank has raised Rs 2021 crore of common equity capital through conversion of preferential warrants issued to the Promoter entities - IndusInd International Holdings (IIHL) and IndusInd (IL). The warrants were issued as an integral part of the merger with Bharat Financial Inclusion in July 2019. The Promoter entities had paid Rs 673 crore at the time of subscription to the warrants and the balance amount of Rs 2021 crore was paid on February 18, 2021.
The finance committee of the Bank has 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.
IndusInd Bank is as one of the fastest growing banks in the banking sector in India.
