Mumbai, March 30 -- The qualified institutional placement (QIP), which commenced on 21 March 2024, concluded on 27 March 2024, with a total of 2,64,31,718 equity shares being allotted. The shares were priced at Rs 227 per share, resulting in an issue size of approximately Rs 599.99 crore.

The issue price of Rs 227 is at a discount of Rs 14.07 or 1.91%, to the floor price of Rs 231.43 per equity share set for the QIP issue.

The bank said this capital raise comprising the QIP of Rs 600 crore, along with the preferential issues of Rs 800 crore in October 2023 allotment of which was approved by the committee of directors on 26 October 2023, and for Rs 100 crore in February 2024 allotment of which was approved by the committee of directors o...