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Tisha Malhotra made post

What is the latest update on the investing in IndusInd Bank planned by US hedge fund?

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Moii Chavate answered.
2 weeks ago

IndusInd Bank announced that the RBI had permitted one of its stakeholders, Route One Investment Company LP, a US based hedge fund to increase stake in the bank to 10%. Route One currently holds about 4.96% in IndusInd Bank. Route One had approached RBI seeking prior approval to increase stake in IndusInd up to 10%. This is in line with the Master Direction issued by the RBI for private banks.

It may be recollected that the promoters of IndusInd Bank, the Hinduja Brothers, had also sought permission from the RBI to hike their stake in IndusInd Bank. RBI is apparently not in favour of permitting the Hindujas to increase their stake in IndusInd Bank. Ashok Hinduja had cited the example of Kotak Bank and had sought a special dispensation in this case.