Home / Companies / News / Hindujas' plan to hike stake in IndusInd Bank likely to face delays

Hindujas' plan to hike stake in IndusInd Bank likely to face delays

The bank is promoted by holding companies IndusInd International Holdings and IndusInd, which are predominantly controlled by Ashok Hinduja, the youngest among the four Hinduja brothers.

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The Hindujas had sought permission from the banking regulator to raise their stake to 26 per cent in IndusInd Bank in March.

Hamsini Karthik Mumbai

3 min read Last Updated : Jun 25 2020 | 8:18 AM IST

The legal battle in the Hinduja family, which could result in a partition of family assets, is likely to delay their plan to increase stake in IndusInd Bank.

The bank is promoted by holding companies IndusInd International Holdings and IndusInd, which are predominantly controlled by Ashok Hinduja, the youngest among the four Hinduja brothers.

Promoters of IndusInd Bank have increased their stake from 14.34 per cent in the March quarter to 14.93 per cent through a warrant conversion earlier this month and open market share purchases. Under the existing Reserve Bank of India (RBI) rules, promoters can hold up to

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