Question
Hinduja group firm IndusInd International Holdings Ltd
(IIHL), the promoter of IndusInd Bank, is planning to raise ______ to increase its stake in the lender to 26 per cent from the current 15 per cent in the bank.Solution
Hinduja group firm IndusInd International Holdings Ltd (IIHL), the promoter of IndusInd Bank, is planning to raise $1.5 billion (about Rs. 12,300 crore) to increase its stake in the lender to 26 per cent from the current 15 per cent in the bank. In November 2021, the RBI allowed promoters to hold up to 26 per cent stake in banks, up from the previous cap of 15 per cent.
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