IndusInd Bank allots shares worth ₹2,500 cr to Route One, others

According to the press release filed with the exchange, the Finance Committee of the Board of Directors of the Bank approved the allotment of 4.76 crores of equity shares at a price of ₹524 per equity share on a preferential basis, for an aggregate consideration of ₹2495.79 crore.

ICICI Prudential Life Insurance Company,Route One Offshore Masters Fund, AIA Company Ltd, Route One Fund I, L.P. and Tata Investment Corporation Ltd are the allottees buying shares in the preferential issue.

ICICI Prudential Life Insurance Company to be allotted 16.22 million shares, Route One Offshore Masters Fund to be allotted 10.69 million, AIA Company Ltd to be allotted 7.8 million shares, Route One Fund I, L.P. to be allotted 7.16 million, and Tata Investment Corporation Ltd to be allotted 5.72 million shares.

Shares of IndusInd Bank gained 2.08% to close at ₹640.75 on BSE, while the benchmark index, Sensex gained 0.48% to close at 39,086.03 points.