Stocks

IndusInd Bank promoters to purchase shares from open market

Our Bureau Mumbai | Updated on June 08, 2020

All six banking stocks in the Sensex pack ended higher on Friday. The stock of IndusInd Bank, which had been dipping after touching a high of Rs. 452 early this week, closed at Rs. 422.55, up 1.84 per cent, on the BSE SHASHI ASHIWAL

The promoters of IndusInd Bank plan to purchase additional shares from the market. "We shall now purchase additional shares from the open market in India, within the overall regulatory prescribed promoter equity holding cap," it said in a regulatory filing.

IndusInd International Holdings and IndusInd Holdings, promoters of IndusInd Bank, currently hold 14.68 per cent of the bank's shares.

The bank had in April informed the bourses that its promoters had written to the Reserve Bank of India for permission to increase their stake to 26 per cent.

The IndusInd Bank scrip was up over 6 per cent in early morning trade on BSE.

Published on June 08, 2020

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