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Hindujas get another extension to subscribe to IndusInd Bank warrants

New deadline set at Feb 4, 2021, by which time Hindujas must bring in Rs 2,021.45 crore towards subscription

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The promoter group held 14.68 per cent stake in bank at end of September 2020, according to a filing with BSE.

2 min read Last Updated : Dec 16 2020 | 8:29 PM IST

The Securities and Exchange Board of India (Sebi) has granted Hindujas more than a month, till February 04, 2021, to bring in the balance amount of Rs 2,021.45 crore to subscribe to warrants of IndusInd Bank. This amount forms 75 per cent of warrants, to be converted into the equity of the bank, of which the Hindujas are the promoters.

The Covid-19 pandemic had disrupted the business operations of entities across the world. Among the many measures to safeguard the economy, RBI also extended the loan moratorium. It in this background that the bank, on behalf of promoter entities IndusInd International

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