Notice: Undefined index: secID in /me/beta.myiris.com/htdocs/newsCentre/storyShow.php on line 9

Warning: include_once(/newsCentre/captcha.php): failed to open stream: No such file or directory in /me/beta.myiris.com/htdocs/newsCentre/storyShow.php on line 25

Warning: include_once(): Failed opening '/newsCentre/captcha.php' for inclusion (include_path='.:/usr/share/php') in /me/beta.myiris.com/htdocs/newsCentre/storyShow.php on line 25

Notice: Undefined index: secID in /me/beta.myiris.com/htdocs/newsCentre/storyShow.php on line 49

Notice: Undefined variable: storySecID in /me/beta.myiris.com/htdocs/newsCentre/storyShow.php on line 57

Warning: count(): Parameter must be an array or an object that implements Countable in /me/beta.myiris.com/htdocs/newsCentre/storyShow.php on line 223

Warning: include_once(./functions/secwiseNewsFunctions.php): failed to open stream: No such file or directory in /me/beta.myiris.com/htdocs/newsCentre/bodyTop.php on line 5

Warning: include_once(): Failed opening './functions/secwiseNewsFunctions.php' for inclusion (include_path='.:/usr/share/php') in /me/beta.myiris.com/htdocs/newsCentre/bodyTop.php on line 5
Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
06 July, 2025 12:05 IST
IndusInd Bank raises Rs. 20,210 mn on conversion of preferential warrants
Source: IRIS | 18 Feb, 2021, 04.33PM
Rating: NAN / 5 stars.
Comments  |  Post Comment

Notice: Undefined variable: fileR in /me/beta.myiris.com/htdocs/newsCentre/bin/addLinksNew.php on line 17

Notice: Undefined variable: fileR in /me/beta.myiris.com/htdocs/newsCentre/bin/addLinksNew.php on line 142

 IndusInd Bank, the private sector lender on February 18 raised Rs 20,210 million 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 6,730 million at the time of subscription to the warrants and the balance amount of Rs 20,210 million 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 Feb. 17, 2021.

The Bank's already healthy capital adequacy ratios get further bolstered with this infusion from the Promoter entities. The Capital Adequacy Ratio including 9MFY21 profits was at 16.93% as of December 31, 2020 and this will get augmented to approximately 17.68% with this capital inflow.

Earlier in September 2020, the Bank completed preferential issues of equity capital of Rs 32,880 million and this was subscribed by the Promoter as well. Together with the current warrants conversion, the Bank has raised Rs 53,090 million of equity capital during the financial year 2020-21.

On the successful conversion of the preferential warrants, Sumant Kathpalia, Managing Director and CEO of IndusInd Bank said, "The conversion of warrants at a significant premium reflects strong commitment of the Promoter entities to the Bank. With this capital raise and continued economic recovery, the Bank is well positioned to execute our strategy of "Scale with Sustainability." I thank the Promoters for their steadfast belief in the management and supporting the Bank in every opportunity for capital contribution." 

Shares of the bank gained Rs 14.55, or 1.41%, to trade  at  Rs 1,047.15.  The total volume of shares traded  was  392,045 at  the BSE (3.14 p.m, Thursday).



 Post Comment
Notice: Undefined index: dir in /me/beta.myiris.com/htdocs/newsCentre/comments.php on line 162
>
Name Email
Comment
Security Code type   
Notice: Undefined variable: captchacode in /me/beta.myiris.com/htdocs/newsCentre/comments.php on line 183
into this box
Related Articles

Notice: Constant DOC_ROOT_FOR_HTML_FILES already defined in /me/beta.myiris.com/htdocs/newsCentre/rightSideTabs.php on line 1

Notice: Undefined index: secID in /me/beta.myiris.com/htdocs/newsCentre/storyShow.php on line 470

Notice: Undefined index: secID in /me/beta.myiris.com/htdocs/newsCentre/storyShow.php on line 470
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer


Warning: fopen(/me/beta.myiris.com/htdocs/newsCentre/news_web_count.txt): failed to open stream: Permission denied in /me/beta.myiris.com/htdocs/newsCentre/storyShow.php on line 566

Warning: fwrite() expects parameter 1 to be resource, boolean given in /me/beta.myiris.com/htdocs/newsCentre/storyShow.php on line 567

Warning: fclose() expects parameter 1 to be resource, boolean given in /me/beta.myiris.com/htdocs/newsCentre/storyShow.php on line 568

Notice: Undefined index: key in /me/beta.myiris.com/htdocs/newsCentre/storyShow.php on line 571