New Enroll in our GIC Finance Online Course Here!

    Register

    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.
    A $1.1 billion Correct Answer Incorrect Answer
    B $1.3 billion Correct Answer Incorrect Answer
    C $1.5 billon Correct Answer Incorrect Answer
    D $1.7 billion Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    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.

    Practice Next

    Relevant for Exams: