Corporate News     30-Jan-18
Board of Ind Bank Housing approves conversion of FITL into CCPS
At meeting held on 29 January 2018
The Board of Ind Bank Housing has approved the Private Placement Offer Letter for issue of Non-Cummulative Compulsorily Convertible Preference Shares (CCPS) of up to 1,29,00,000.00 shares of 0.001% CCPS of the face value of Rs. 100/- each at par amounting to Rs. 129 crore to Indian Bank, for the purpose of conversion of the Funded Interest Term Loan in to CCPS, for which the approval of the Shareholders had been already accorded during their meeting held on 16 September 2017.
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