 "Ashok Leyland sells stake worth Rs 299 crore in IndusInd Bank")
The private sector lender is also part of the Hinduja group.
Ashok Leyland sold 32,63,923 shares or 0.55 per cent stake in the bank through a bulk deal. The shares were offloaded at an average price of Rs 915.96, valuing the transaction at Rs 298.96 crore, as per the latest data available with NSE.
Also Read
However, buyers of the stake could not be ascertained immediately.
Shares of IndusInd Bank on Monday closed at Rs 921 on NSE, down by 0.76 per cent. On the volume front, total 47,43,485 shares were traded on the exchange.
IndusInd Bank, among the first new generation private sector banks that obtained a licence in 1994, was conceptualised by Srichand P Hinduja, Hinduja group chairman.
Hinduja group is a major player in automotive manufacturing, financial services, banking, oil, media and Telecom, among others.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%