IndusInd Bank plans $1-billion India fund
Hindujas-promoted IndusInd Bank has said it is looking to float a $1-billion fund (about Rs 4,500 crore) for investments in India.
“We are going to partner with Indian firms that are known in the capital market space and are in the process of floating funds of their own. It is going to be the Hinduja brand name alongside local firms,” said Hinduja Group Chairman S P Hinduja.
“One of the things we are planning to do in Dubai is to offer an offshore fund for investment into India,” he said after the 15th annual general meeting of IndusInd International Holdings (Mauritius).
The offshore fund would invest primarily in two specific sectors, real estate and infrastructure, for which investors in Dubai are very keen, he added.
On the bank’s expansion plan, he said after 14 years of the launch, it was time to diversify and look at other sectors such as capital markets, stockbroking, wealth management and asset reconstruction.