IndusInd Bank, the private sector lender, announced that the approval accorded by the board of directors of the bank the approval of the shareholders of the bank by resolution adopted through a postal ballot on June 08, 2015 for the QIP,

The finance committee of the bank on June 25, 2015 has authorising the opening of the QIP on June 25, 2015.

It also approving the preliminary placement document dated June 25, 2015 in connection with the QIP; and approval of the floor price for the QIP.

Further the company has informed that, the 'Relevant Date' for this purpose, in terms of Regulation 81(c)(i) of the SEBI ICDR Regulations, is June 25, 2015 and accordingly the floor price in respect of the aforesaid QIP, based on the pricing formula as prescribed under Regulation 85(1) of the SEBI ICDR Regulations is Rs 821.54 equity share. Pursuant to Regulation 85 of the SEBI ICDR Regulations, the Bank may offer a discount of not more than 5% on the floor price so calculated for the QIP.

Shares of the bank declined Rs 14.85, or 1.71%, to trade at Rs 851.65. The total volume of shares traded was 41,830 at the BSE (1.04 p.m., Monday).