Has SEBI permitted the Hindujas to hike their stake in IndusInd Bank?
Answer
Answer
The Hinduja brothers of UK have been exploring for some time the possibility of enhancing their stake in IndusInd Bank. Current rules limit the promoter stake in the bank at 15%, but now SEBI apparently wants to increase that limit to 26%. That should come as a respite for the Hinduja brothers in IndusInd as well as to Uday Kotak who is the major stake holder in Kotak Mahindra bank.
The Hindujas are awaiting final rules by the RBI and are willing to hike their stake in IndusInd Bank to 26%. Currently, the Hindujas own 16.5% in IndusInd Bank.