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Billionaire Hinduja family pays 61% premium to boost IndusInd stake

The family's holding in the lender shrank to 13% following its merger with the nation's largest microlender Bharat Financial in July 2019

IndusInd Bank. Photo: Bloomberg
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Billionaire Srichand P Hinduja founded IndusInd Bank in 1994. Photo: Bloomberg

Suvashree Ghosh | Bloomberg
The Hinduja family paid a premium to boost its stake in IndusInd Bank, a sign of confidence in the Indian private-sector lender as concerns over its asset quality ease.
 
IndusInd International Holdings (IIHL), which represents the bank’s founding Hinduja clan, completed its rights issue, which was oversubscribed at over Rs 2,021 crore, it said in a statement late Tuesday. The warrants will be redeemed at Rs 1,709 a share, a 61 per cent premium over Tuesday’s close.
 
“IndusInd International Holdings Ltd (IIHL), one of the bank's promoters, confirmed having completed its capital raising through rights issue which was

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First Published: Feb 17 2021 | 4:36 PM IST

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