Floor price for QIP is Rs 821.54 per equity share
IndusInd Bank announced that subsequent to the approval accorded by the Board of Directors of the Bank, at its meeting held on 16 April 2015 and the approval of the shareholders of the Bank by resolution adopted through a postal ballot on 08 June 2015 for the QIP, the Finance Committee of the Bank on 25 June 2015 has, inter alia passed the following resolutions.1. Authorising the opening of the QIP on 25 June 2015.
2. Approving the preliminary placement document dated 25 June 2015 in connection with the QIP, (the "Preliminary Placement Document"); and
3. Approval of the floor price for the QIP.
Further the Company has informed that, the 'Relevant Date' for this purpose, in terms of Regulation 81(c)(i) of the SEBI ICDR Regulations, is 25 June 2015 and accordingly the floor price in respect of the aforesaid QIP, based on the pricing formula as prescribed under Regulation 85(1) of the SEBI ICDR Regulations is Rs. 821.54 per Equity Share. Pursuant to Regulation 85 of the SEBI ICDR Regulations, the Bank may offer a discount of not more than 5% on the floor price so calculated for the QIP.
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