Shillong, June 26: The Hinduja Group, the promoter of IndusInd Bank, is anticipated to receive approval from the Reserve Bank of India (RBI) to increase their stakes by 9.5 percent, reaching a total of 26 percent, according to reliable sources.
Sources close to the Hinduja Group have indicated that the RBI is likely to grant formal clearance for the stake hike.
During an analyst conference, the management of IndusInd Bank confirmed that the promoters had applied to the RBI for permission to increase their stake.
Currently, two companies – Indusind International Holdings Ltd and Indusind Ltd – hold stakes of 12.57 percent and 3.93 percent, respectively, in IndusInd Bank.
The stake hike is expected to inject approximately Rs. 10,000 crore into the bank.
On Monday, at the Bombay Stock Exchange (BSE), the closing price of IndusInd Bank’s scrip stood at Rs. 1,315, with an opening price of Rs. 1,314.05. The 52-week high and low for the scrip were recorded at Rs. 1,342.65 and Rs. 782.85, respectively.
