IndusInd Bank, a private sector bank in India, will raise Rs19.54 billion $351 million from a qualified institutional placement QIP after sources said the price would be fixed at the bottom of the range.
The deal was launched at about midnight Hong Kong time on Monday and completed before the opening of Indian trading yesterday morning, although as is usually the case with Indian QIPs the allocations took a long time the deal must be placed with a maximum of 49 accounts and as of late last night, the price still hadn’t been formally confirmed.
However, the deal attracted a lot of interest and sources...
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