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IndusInd Bank to raise Rs 3,300 crore via share sale

IndusInd Bank will raise Rs 3,288 crore by selling shares through a preferential issue at Rs 524 apiece to a set of institutional investors as it shores up its capital buffer amid Covid-linked uncertainties. US-based hedge fund Route One, which received RBI approval to raise its stake in the bank to 10%, will invest Rs 935 crore, followed by Rs 850 crore from ICICI Prudential Life Insurance. Promoter group companies Hinduja Capital and IndusInd International will together invest Rs 792 crore to maintain their 15% stake. Tata Investment Corp, the investment arm of Tata Group, will invest Rs 300 crore.

Read More at The Economic Times News date : 29 Jul 2020, Wednesday

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