Private lender IndusInd Bank has approved an allotment of nearly 88 lakh equity shares valued at around Rs 753 crore to IndusInd International Holdings Limited and others. "The Finance Committee of the bank has approved the allotment of equity shares at a meeting on Thursday", IndusInd Bank said in a Bombay Stock Exchange (BSE) filing. "IndusInd Bank...today approved allotment of 87,81,360 equity shares of face value of Rs 10 each to IndusInd International Holdings Limited and its subsidiary, Induslnd Limited, Promoters of the bank on a preferential basis", the statement said. "The shares have been alloted at offer price of Rs 857.20 per equity share, aggregating to Rs 752,73,81,792", it said. As on June 30, 2015, IndusInd Bank has 811 branches and 1,543 ATMs spread across the country. The Bank also has representative offices in London, Dubai and Abu Dhabi. Shares of the bank closed at Rs 951.95 apiece, down 0.10 per cent on Bombay Stock Exchange (BSE).
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