IndusInd Bank raises Rs. 5,081 crores common equity via QIP and Preferential IssuancesEstimated reading time: 3 minutes, 7 seconds

IndusInd Bank raises Rs. 5,081 crores common equity via QIP and Preferential Issuances

Posted on Wednesday, August 12th, 2015 | By IndusInd Bank

Highlights:

  • Preferential Issue allotment aggregating Rs. 752.74 crores concluded on 6th August 2015.
  • QIP issue allotment aggreg ating Rs. 4,327.98 crores concluded on 3rd July 2015.

Mumbai, August 12, 2015: With the completion of the preferential issue to Promoters,IndusInd Bank has, in combination with the recent QIP issue, successfully raised Rs. 5,081 crores of common equityt through issuance of 6 crore new shares. The raised capital will be used to support the Bank’s growth and also augment total Capital Adequacy Ratio.

The QIP issue addressed to foreign and domestic institutional investors was priced at 2.9% premium to the SEBI determined floor price at Rs 845/- per share. The Preferential Issue for Promoters, namely IndusInd International Holdings Limited and its subsidiary IndusInd Limited; was priced at the higher of the QIP price and the SEBI determined floor price as applicable to preferential allotments at Rs 857.20/-per share.

On the successful completion of the QIP issue, Mr. Romesh Sobti, Managing Director & CEO of IndusInd Bank said, “Our capital raising is possibly one of the standout equity transactions of 2015 and will support our growth aspirations.”” Mr. Sobti further added, “Despite the challenging environment, IndusInd Bank has delivered a consistent financial performance and the demand for our shares is testimony to our effective business model.”

Morgan Stanley India Company Private Limited, JM Financial Institutional Securities Limited and CLSA India Private Limited were the Joint Global Coordinators and Book Running Lead Managers to the QIP issue. Citigroup Global Markets India Private Limited, Credit Suisse Securities (India) Private Limited, Goldman Sachs (India) Securities Private Limited and J.P. Morgan India Private Limited were the Book Running Lead Managers to the QIP issue.

About IndusInd Bank

IndusInd Bank, which commenced operations in 1994, caters to the needs of both consumer and corporate customers.Its technology platform supports multi-channel distribution network. As on June 30, 2015, IndusInd Bank has 811 branches and 1,543 ATMs spread across the country. The Bank also has representat ive offices in London, Dubai and Abu Dhabi. It enjoys clearing bank status for both major stock exchanges -BSE and NSE -and major commodity exchanges in the country, including MCX, NCDEX, and NMCE. IndusInd Bank is ranked 19th amongst the Top 50 Most Valuable Indian Brands 2014 as per the BrandZ Top 50 rankings a study published by the WPP and conducted by Millward Brown.

Ratings:

  • ICRA AA+ for Lower Tier II subordinate debt program by ICRA
  • ICRA AA for Upper Tier II subordinate debt program by ICRA
  • CRISIL A1+ for certificate of deposit program by CRISIL
  • CARE AA+ for Lower Tier II subordinate debt program by CARE
  • IND A1+ for Short Term Debt Instruments by India Ratings and Research
  • IND AA+ for Lower Tier II subordinate debt program by India Ratings and Research
  • IND AA for Upper Tier II subordinate debt program by India Ratings and Research
  • IND AA+ for Senior unsecured bonds program by India Ratings and Research

Twitter –@MyIndusIndBank

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For more details on this release, please contact:

Mohit Ganju
IndusInd Bank Ltd.
Mohit.ganju@indusind.com
0124-4749500
Rasika Badshah
Adfactors PR Pvt. Ltd.
asika.badshah@adfactorspr.com
9821631379

Disclaimer-

“This announcement has been prepared for publication in India and may not be released in the United States. This announcement does not constitute an offer of securities for sale in any jurisdiction, including the United States, and any securities described in this announcement may not be offered or sold in the United States absent registration under the US Securities Act of 1933, as amended or an exemption from such registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the issuer or the selling security holder and that will contain detailed information about the bank and management, as well as financial statements.”