IndusInd Bank gains 5% as Hinduja looks to raise stake to 26% in lender

Shares of IndusInd Bank rose 5 per cent to Rs 1,130 on the BSE in Friday’s intra-day trade on reports that the Hinduja group is planning to raise its stake in the private sector lender from 15 per cent to 26 per cent with an investment of Rs 10,000 crore.

According to a Business Standard report, the Hinduja’s Mauritius-based promoter entity had received the Reserve Bank of India’s (RBI) approval to raise the stake. CLICK HERE FOR FULL REPORT

In November 2021, the RBI had allowed promoters to own as much as 26 per cent in a