IndusInd Bank fell 3.94% to Rs 913.05 at 15:22 IST on BSE after the bank said it will use the proceeds from the QIP and preferential allotment of shares to support the bank's growth and also augment its total capital adequacy ratio.
The announcement was made during market hours today, 12 August 2015.
Meanwhile, the S&P BSE Sensex was down 350.67 points or 1.26% at 27,515.42.
On BSE, so far 64,000 shares were traded in the counter as against average daily volume of 1.11 lakh shares in the past one quarter.
The stock was volatile. The stock lost as much as 3.94% at the day's low of Rs 913 so far during the day. The stock rose as much as 0.34% at the day's high of Rs 953.75 so far during the day. The stock had hit a record high of Rs 988.50 on 31 July 2015. The stock had hit a 52-week low of Rs 535.20 on 13 August 2014.
The stock had outperformed the market over the past one month till 11 August 2015, surging 6.24% compared with the Sensex's 0.74% rise. The scrip had also outperformed the market in past one quarter, advancing 15.91% as against Sensex's 1.3% rise.
The large-cap private sector bank has equity capital of Rs 591.64 crore. Face value per share is Rs 10.
IndusInd Bank raised Rs 752.74 crore from preferential issue of shares to promoters on 6 August 2015. The bank had last month raised Rs 4327.98 crore from qualified institutional placement (QIP).
IndusInd Bank's net profit rose 24.7% to Rs 525.04 crore on 20% growth in total income to Rs 3447.84 crore in Q1 June 2015 over Q1 June 2014.
IndusInd Bank is a leading private sector bank in India.
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