IIB's promoter has taken a leap ahead to convert its due warrants of Rs20.2bn at premium of 62% from CMP, although warrants issued in Q1FY20 were also at 18% premium. Infusion of money will increase promoter stake to 15%, add 3% to BV, improve capital by 4-5% with CET-I moving to ~16% from 14.3% in Q3FY21. Promoter has pledged its holding in IIB of 5.64% (Rs40bn on Mcap) looking for acquisition/strategic investment to convert promoter holding entity (IIHL) into listed operating entity outside India by Sep'21 and provide exit to its shareholders. Promoters also intends to increase its stake to 26%...