IndusInd Bank up on hopes of strong response to share sale
Reuters Market Eye - Shares in IndusInd Bank(INBK.NS) gain 3 percent on expectations of strong subscription to share sale, dealers say.
IndusInd Bank launched late on Monday a share sale to raise up to $360 million, two sources with direct knowledge of the deal said, as it looks to boost its capital base.
The share sale to institutional investors was launched at a floor price of about 374 rupees a share, said the sources, declining to be named as they were not authorised to speak to the media.
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India approved on Saturday the purchase of 814 mounted gun systems for the army at a cost of 157.5 billion rupees ($2.55 billion), a defence ministry spokesman said. Full Article