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IndusInd Ltd, Mauritius, which is the promoter of private sector lender IndusInd Bank, has fully repaid its loan to Citibank London on March 31.
“The pledge of 23.8 million equity shares of IndusInd Bank Ltd shall be released by Citibank, London on Wednesday,” the private sector lender said in a regulatory filing, adding that IndusInd Ltd, Mauritius is now a debt-free entity.
In a letter to the bank’s new Managing Director and CEO Sumant Kathpalia, IndusInd International Holdings and IndusInd Ltd said that the holdings of IIHL (Mauritius) and IL (Mauritius) stand at 14.68 per cent of the bank’s fully diluted capital basis.
“IndusInd International Holdings Ltd (IIHL) and IndusInd Ltd, Mauritius stand committed to maintain their equity holding in IndusInd Bank Ltd at the overall regulatory limits prescribed for promoters of private sector banks in India,” said the letter, which was part of the regulatory filing said.
IndusInd Bank’s scrip, which has been under pressure in recent weeks gained 1.38 per cent in BSE on early morning trade following the announcement.
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