Key Points
Mumbai, Jul 3 (PTI) Hinduja group-owned IndusInd International Holdings (IIHL), the promoter of IndusInd Bank, on Monday announced a USD 1.5-billion capital raising plan to fund the proposed acquisition of Reliance Capital and increase its stake in the lender...
The board of the Mauritius-registered IIHL also decided to increase its holding in the fourth-largest private sector lender to 26 per cent from the present 15 per cent, a statement issued from Port Louis said...
It can be noted that on June 29, the lenders to the crippled Reliance Capital accepted the revised Rs 9,661 crore bid by IndusInd Bank...
The first objective of the capital raising is to increase its promoter shareholding in IndusInd Bank from the current 15 per cent to 26 per cent..
The second objective of the capital raising is towards equity participation for the acquisition of Reliance Capital through the NLCT process, the statement said, adding today, the administrator has issued the duly signed letter of intent...
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