LIC, ICICI Pru, SBI MF: Top mutual funds who own IndusInd Bank stock

According to ACE Equity data, LIC and ICICI Prudential fund held more than 5% stake in IndusInd Bank; another 13 fund houses owned more than 1 per cent equity of the bank as of December quarter.

IndusInd Bank stock witnessed the sharpest one-day drop in its history, tumbling over 25 per cent in intraday deals on Tuesday, a day after the bank reported discrepancies in its derivative portfolio.  Among the key public investors that held over 1 per cent stake in the bank as on December 2024 included Life Insurance Corporation of India (LIC), ICICI Prudential India Opportunities Fund, SBI Nifty 50 ETF, Government of Singapore, UTI Large Cap Fund and Nippon Life India Trustee Ltd-A/C Nippon India Arbitrage Fund, data from ACE Equity suggests.  These marquee mutual funds / asset management companies held stakes up to 5.5 per cent in IndusInd Bank as at the end of December 2024 quarter, the latest available data in ACE Equity database suggests. 

 

Mutual Funds owning IndusInd Bank stock as of Dec. 2024

    The holding, however, could have changed in the last two months, with these funds adding, trimming, or even completely exiting the stock since then.  Meanwhile, IndusInd Bank's detailed internal review has estimated an adverse impact of around 2.35 per cent of the Bank’s net worth as of December 2024. It has also, in parallel, appointed a reputed external agency to independently review and validate the internal findings. A final report of the external agency is awaited, on which the IndusInd Bank will appropriately consider any resultant impact in its financial statements, reports suggest.  Established in 1994 by Srichand P Hinduja, the name 'IndusInd' in its name was inspired by the Indus Valley Civilisation - one of the greatest cultural examples of a combination of innovation with sound business and trade practices.    IndusInd Bank Limited was incorporated in 1994 under the Companies Act, 1956 and is licensed by the Reserve Bank of India (RBI) to operate as a commercial bank under the Banking Regulation Act, 1949.  The bank offers a wide array of products and services for individuals and corporations including microfinance, personal loans, personal and & commercial vehicles loans, credit cards and SME loans. The bank is also a preferred banking partner for various Government entities, PSUs and large corporations.