Stocks

IndusInd shares hit 52-week high on QIP announcement

R.Y. Narayanan Coimbatore | Updated on November 27, 2012 Published on November 27, 2012

Shares of IndusInd Bank Ltd touched a fresh 52-week high today with the bank announcing that it had on November 26 opened the issue for Qualified Institutional Placement of equity shares.

In an announcement to the stock exchanges today, the bank said that the details relating to pricing and allotment would be announced shortly.

The bank's board had earlier authorised issue of shares for an aggregate face value not exceeding 25 per cent of the authorised share capital of the bank capping the share issue at 5.21 crore shares through the QIP route.

Shares of IndusInd Bank touched a new 52-week high of Rs 397 on the BSE this morning before declining marginally to Rs 394.75, a gain of Rs 10.15 at around 10.10 a.m.

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Published on November 27, 2012
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