IndusInd promoter company to raise stake in bank to 26%

The Hinduja Group will raise its stake in IndusInd Bank from 16% to 26% in multiple tranches even as its promoter company IndusInd International Holding is working on a plan to list on Mauritius-based stock exchange Afrinex.

IIHL) has received the Reserve Bank of India’s approval letter to raise its stake in the bank to 26%, but the regulatory process is taking time, Ashok Hinduja, director of Hinduja group, said at a recent media interaction.