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IndusInd Bank share sale raises $250mln: sources

IndusInd Bank share sale raises $250mln: sources
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First Published: Thu, Sep 16 2010. 09 49 AM IST
Updated: Thu, Sep 16 2010. 09 49 AM IST
Mumbai: Indian private-sector lender IndusInd Bank has raised $250 million in a share sale to institutional investors, two sources with direct knowledge of the situation said on Thursday.
IndusInd sold the shares at Rs 234.55 each, said the sources who declined to be named as they were not authorised to speak to the media. The price represents a discount of 2.7% to Wednesday’s close.
The offering was managed by Morgan Stanley, IDFC Capital, JM Financial, UBS and BNP Paribas, the sources said.
Officials at IndusInd Bank and the lead managers could not immediately be reached by Reuters for comment.
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First Published: Thu, Sep 16 2010. 09 49 AM IST