InvestorQ : What is the latest on the Hinduja Group of London increasing their stake in IndusInd Bank?
Rutuja Nigam made post

What is the latest on the Hinduja Group of London increasing their stake in IndusInd Bank?

Answer
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Arti Chavan answered.
4 months ago


The Hindujas of London and IndusInd Bank have been negotiating with the RBI to allow the promoters (Hinduja Group) to enhance their stake in the bank to 26%. There has been no confirmation or assent from the RBI, which has normally been wary of allowing promoters to increase their stake in banks when prices are down. Currently, the Hindujas hold 14.68% in IndusInd Bank and will only look to enhance their stake up to the statutory limit of 15%. After the special relaxation granted to Uday Kotak, the Hindujas have also asked for a relaxation on the same lines and allow the stake of promoters to go up to 26%. Although the stock has rallied in the last one month, it must be remembered that IndusInd Bank has fallen over 85% over last one year, especially after the freeze on Yes Bank.