 "RBI was approached for permission and Route One Investment Company has obtained the requisite approval from the regulator for the stake hike.")
Shares of private lender IndusInd Bank advanced 5.6 per cent to Rs 556 on the BSE on Wednesday on report that US-based hedge fund Route One Investment may up stake in the bank from current 5.4 per cent to 9.9 per cent.
According to a report by Moneycontrol, Route One Investment Company currently holds a 5.41 per cent stake in IndusInd Bank through two entities but intends to hike it to around 9.9 per cent via a preferential allotment of shares, helping the bank strengthen its Balance Sheet and raise capital.
"A few other investors may also join Route One and participate
