The Hinduja Group will raise its stake in IndusInd Bank Limited (NSEI:INDUSINDBK) from 16% to 26% in multiple tranches even as its promoter company IndusInd International Holdings Ltd. is working on a plan to list on Mauritius-based stock exchange Afrinex. IndusInd International Holding Ltd. (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.
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- IndusInd Promoter Company to Raise Stake in Bank to 26%