IndusInd Bank is trading higher by 3% at Rs 397, also its record high on the BSE, after the private sector lender said that it has opened the issue for qualified institutional placement (QIP) on November 26.
“The bank proposed to issue 52.1 million shares of Rs 10 each via QIP route,” IndusInd Bank said in a filing. The bank might raise around Rs 2,000 crore (approx $ 350 million) Based on the current market price.
The stock has outperformed the market by rising 76% so far in the current calendar year 2012, compared to 21% gain in benchmark Sensex and 46% rise in banking index Bankex.
The stock opened at Rs 388 and has seen a combined 786,721 shares changing hands on the counter in morning deals.
