Hinduja Group likely to invest Rs 10,000 crore in IndusInd Bank; raise stake to 26%: Report

Hinduja Group is in talks to increase its stake in IndusInd Bank with an investment of INR 10,000 crore. The deal is expected to be completed by the second half of FY24. The Reserve Bank of India may approve the group’s request to hike IndusInd Bank’s stake to 26%, which led to a more than 3% increase in the bank’s shares in Friday’s trade. At present, the lender’s promoters own 16.51% stake in the bank while IndusInd International Holdings and IndusInd Ltd own 12.585% and 3.92%, respectively.