Comments
The Reserve Bank of India has approved a proposal by Route One Investment Company (ROIC) to increase its stake in IndusInd Bank to up 10 per cent from 4.96 per cent.
“RBI has forwarded the bank a copy of the letter addressed to ROIC, granting approval for increasing their shareholding up to 10 per cent of the paid-up voting equity capital of IndusInd Bank,” the private sector lender said in a regulatory filing on Friday.
ROIC had approached RBI for approval to increase its stake in the bank.
“Basis reference from RBI, the board of directors of the bank, in their meeting held on July 5, 2020, granted its approval to the proposed acquisition of Route One Investment Company, L.P. in our bank,” IndusInd Bank further said.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.