Promoters of IndusInd Bank to hike stake by buying extra shares from market

The promoters of the bank plan to acquire additional shares from open market in India

IndusInd Bank's promoters will hike their stake in the private sector lender by buying extra shares from the market.

The promoters of the bank —IndusInd International Holdings (IIHL) and IndusInd — plan to acquire additional shares from open market in India. This will be within the overall regulatory cap prescribed for promoter holding in private banks, the bank informed the BSE on Friday.

Promoters held 14.38 per cent stake in the bank at the end of December 2019. IIHL had 10.59 per cent stake while IndusInd held 3.79 per cent. 

On Friday, IndusInd stock closed 5.62 per cent lower at