Question
SBI Mutual Fund disclosed its intention to acquire a
specific share percentage in IndusInd Bank, along with an equivalent percentage of voting rights. What is the share percentage that SBI MF is aiming to acquire?Solution
This move was disclosed through a regulatory filing on October 11. This enables SBI MF to not only acquire a 9.99% share in IndusInd Bank but also an equivalent percentage of voting rights. The RBI has advised SBI MF to complete this major shareholding acquisition within a year, by October 10, 2024.
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