IndusInd Bank promoters to infuse Rs 2,700 crore via warrants
Updated : June 24, 2019 06:46 AM IST
The merger between the bank and the micro-lender, which will be effective July 4, is accretive from a profit, margin and return on equity perspective.
The promoters will be subscribing to the warrants at a premium of Rs 1,709 a share as against the Friday's close of Rs 1,448.70 on the BSE, strategy head at the bank Sanjay Mallik said.
The merger of Bharat Financial into IndusInd Bank was announced in October 2017, as part of which a shareholder would get 639 shares of IndusInd Bank for every 1,000 shares of the micro-lender.
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