Corporate News 24-Jun-21
Indian Bank announces closure of QIP issue
Approves issue price of Rs 142.15 per share
Indian Bank announced the closure of QIP issue on 24 June 2021 subsequent to the receipt of application forms for an amount aggregating to Rs.1650 crore from eligible Qualified Institutional Buyers in accordance with the terms of the Issue, which was opened on 21 June 2021. The capital raising committee of the Bank has approved the issue price of Rs.142.15 per Equity Share of Rs.10 each (including a premium of Rs.132.15 per Equity Share) determined as per Regulation 176(1) of SEBI ICDR Regulations for the Equity Shares to be allotted to the eligible Qualified Institutional Buyers in the Issue.
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