Deal Street

July 29, 2020

S&R Associates act for IndusInd Bank in its Rs. 3,288 crore fund raising

[ by Legal Era News Network ]


IndusInd Bank has announced that its board has approved Rs. 3,288-crore fund raising plan through a preferential issue. Under the proposed issue, the bank will allot 6.275 crore equity shares at a price of Rs. 524 per share to a set of marquee investors and the promoters, subject to shareholders and other necessary approvals.

The bank will infuse this capital to continue investing in liabilities and asset franchise, technology and infrastructure platforms, to expand reach, product offerings and to improve customer experience, while ensuring sustainable financial parameters.

S&R Associates is representing IndusInd Bank Limited in its proposed preferential allotment to certain investors, including Route One Funds, ICICI Prudential Life Insurance, Tata Investment Corporation and AIA Company.

The S&R team is being led by partners Rajat Sethi and Sudip Mahapatra and includes associates Pooja Singhania, Praveena Pechetti, Rohini Sud and Sarangan Rajeshkumar.

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