Hinduja Group to get RBI’s nod to hike stakes to 26% in IndusInd Bank

Chennai: The Hinduja group, the promoter of the IndusInd Bank, is expected to get the Reserve Bank of India’s (RBI) nod to hike their stakes by 9.5 per cent to 26 per cent, it is reliably learnt.

According to the sources close to the Hinduja group, the RBI is expected to give its formal clearance to the group for stake hike.

At an analyst conference, the IndusInd Bank management had said the promoters have applied to RBI for a stake hike.

Currently two companies – Indusind International Holdings Ltd and Indusind Ltd – hold 12.57 per cent and 3.93 per cent, respectively, in IndusInd Bank.

It is said the stake hike will result in an infusion of about Rs.10,000 crore into the bank.

On Monday at BSE, the IndusInd Bank scrip closed at Rs.1,315 after opening at Rs.1,314.05. The scrip’s 52 week high and low were Rs.1,342.65 and Rs.782.85, respectively.

Bank officials declined to comment when IANS had reached them for clarification.