IndusInd Bank has allotted 1,73,600 equity shares under ESOP on 15 January 2021.

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The Securities and Exchange Board of India (Sebi) has granted a further period of two weeks beyond the extension of one month granted earlier which was 4 February 2021. Accordingly, the extension has now been granted till 18 February 2021.

IndusInd Bank had issued convertible warrants to its promoters IndusInd International Holdings (IIHL) and its subsidiary IndusInd on 6 July 2019 under the composite scheme of arrangement for a total amount of Rs 2,695.26 crore for 1,57,70,985 share warrants. The promoters had paid Rs 673.82 crore towards warrant subscription for price - 25% of the warrant price of Rs 1,709 per share.

In view of the uncertain times due to the COVID-19 pandemic, the bank had at the request of IIHL and IL approached Sebi for extension in time for payment of the balance amount. The promoters in a letter to the bank have reiterated their commitment to the subscription to balance amount of warrants to complete the conversion into equity on or before 18 February.

IndusInd Bank caters to the needs of both consumer and corporate customers. It reported 53.2% decline in net profit to Rs 647.04 crore on 1.6% fall in total income to Rs 8,731.05 crore in Q2 FY21 over Q2 FY20.

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IndusInd Bank Ltd is up for a third straight session in a row. The stock is quoting at Rs 956.9, up 3.75% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.48% on the day, quoting at 14213.95. The Sensex is at 48362.73, up 0.39%. IndusInd Bank Ltd has risen around 4.39% in last one month.

Meanwhile, Nifty Bank index of which IndusInd Bank Ltd is a constituent, has risen around 6.22% in last one month and is currently quoting at 31797.9, up 1.08% on the day. The volume in the stock stood at 84.99 lakh shares today, compared to the daily average of 108.13 lakh shares in last one month.

The benchmark January futures contract for the stock is quoting at Rs 961.5, up 4.09% on the day. IndusInd Bank Ltd is down 34.4% in last one year as compared to a 18.2% spurt in NIFTY and a 2.45% spurt in the Nifty Bank index.

The PE of the stock is 25.77 based on TTM earnings ending September 20.

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Deposits rose 4.96% last month compared with Rs 2,28,279 crore in Q2 September 2020. Retail deposits and deposits from small business customers amounted to Rs 85,914 crore in Q3 FY21, up by 13.63% from Rs 75,610 crore in Q2 FY21.

IndusInd Bank's net advances stood at Rs 2,07,691 crore in Q3 FY21, a tad higher compared with Rs 2,07,413 crore in the same period last year.

Sequentially, the bank's net advances rose 3.20% in December 2020 from Rs 2,01,247 crore in Q2 FY21.

CASA ratio was at 40.5% as on 30 December 2020 as against 42.4% as on 30 December 2019 and 40.4% as on 30 September 2020.

IndusInd Bank caters to the needs of both consumer and corporate customers.

The bank reported 53.2% decline in net profit to Rs 647.04 crore on 1.6% fall in total income to Rs 8,731.05 crore in Q2 FY21 over Q2 FY20.

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