IndusInd International Holdings Ltd. (IIHL), the promoter of IndusInd Bank, mentioned its Board has permitted capital elevating of up to $1.5 billion in addition to to increase enterprise horizons in India and different world geographies in the BFSI sector.
“This strategic decision opens boundless opportunities to expand IIHL’s business horizon in India and other global geographies, in the BFSI sector. IIHL’s aspirations will not be capital constrained as raising capital for IIHL is not an issue at all,” Ashok P. Hinduja, Chairman of IIHL mentioned.
The first goal of the capital-raising is to improve its promoter shareholding in IndusInd Bank from the present 15% to the proposed 26%, he mentioned.
“The second objective of the capital raising is towards equity participation for the Reliance Capital acquisition,” the corporate mentioned.
IIHL is the only Resolution Applicant with a bid quantity of $1.2 billion (₹9,650 crore) in the method run below IBC for Reliance Capital Ltd.
The firm mentioned world Sovereign/Private Equity funds have expressed curiosity in taking part in IIHL’s development story. “The company is likely to be listed by the next year,” it mentioned.
