Hindujas, the promoters of Indusind Bank are planning to increase their stake in IndusInd bank after the recent change in RBI regulations, whereby it allowed promotes to own 26% in the bank (as against 15% earlier).
Key points to note –
- Hindujas currently own 16.54% of IndusInd.
- At current valuations, Hindujas would need about Rs 7,000 crore to acquire 10%. However, they have made it clear that it would be in tranches and not at one go. Hence, the actual money required would vary as per the prevailing market valuations.
- In the absence of any specifics, stake acquisition could be through fresh allotment or secondary buying. Around 70.4% is currently held by FII + DIIs and balance 13% by public.
- Operational guidelines from RBI are awaited before Hindujas would decide the exact mechanism and the timelines.