IndusInd Bank raises US$ 100 million through Qualified Institutional Placement
August 13, 2009‐ Hyderabad, India
US$ 100 mn raised through IndusInd's first QIP offering; Issue priced at a mere 0.4% discount to prevailing market price; Capital Adequacy Ratio (CAR) crosses 15%; Bank's Net Worth crosses Rs. 2000 crore
Hyderabad, August 13, 2009: IndusInd Bank, one of the new generation private sector banks in the country, has successfully concluded its first Qualified Institutional Placement (QIP) offering of US$ 100 million. The issue received very strong response from investors on opening on 11th of August, 2009 and was swiftly over-subscribed.
The price per share has been fixed at Rs 87.50 per share of Face value of Rs. 10 each for the QIP offering. The $ 100 million amount raised represents 13.39 % of the post-offer equity capital of the Bank. The total share capital will increase to Rs 410 crore and the Capital Adequacy Ratio (CAR) has risen to a very comfortable level past 15%. The Bank's Net Worth has now crossed the Rs. 2,000 crore mark.
Speaking on the occasion, Mr. Romesh Sobti, Managing Director & CEO, IndusInd Bank, said, "This QIP offering has made the Bank well capitalised and it will now meet our growth aspirations. The response from institutional investors was very encouraging and most of them are long-term investors."
About IndusInd Bank
IndusInd Bank Ltd. is one of the new-generation private-sector banks in India which commenced its operations in 1994. The Bank currently has a Network of 180 branches, spread over 147 geographical locations in 28 states and union territories across the country. Apart from this it also operates through over 400 Satellite Location through IndusInd Marketing & Financial Services Ltd. The Bank also has a Representative Office each in Dubai and London.
The Bank is driven by state-of-the-art technology since its inception. It has multi-lateral tie-ups with other banks providing access to more than 18,000 ATMs for its customers. It enjoys clearing bank status for both major Stock exchanges - BSE and NSE - and three major commodity exchanges in the country - MCX, NCDEX, and NMCE. It also offers DP facilities for stock and commodity segments. The Bank has been bestowed with the mandate of being a Settlement Banker for tea auctions at Kolkata, Siliguri, Coonoor and Guhawati.
IndusInd Bank has been awarded the highest A1+ rating for its Certificates of Deposit by ICRA and the highest P1+ rating for its Fixed Deposits and Certificates of Deposit by CRISIL.
In recent past, the Bank was awarded The Smart Workplace Award by Economic Times in association with Acer and Intel for enhancing the productivity of the employees through optimum use of resources as well as technology.
Visit us at www.indusind.com
For more details on this release, contact: Sunita Prabhu, IndusInd Bank Ltd., +91 22 42217236; Narayan Bhatt / Ujjawal Punmiya, Adfactors PR Pvt. Ltd., +91 22 22813565
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