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IndusInd Bank up on hopes of strong response to share sale

Source : REUTERS
Last Updated: Tue, Nov 27, 2012 04:44 hrs
A broker watches a TV news channel as another monitors share prices at a brokerage firm in Mumbai

Shares in IndusInd Bank 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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