INDUSIND INTERNATIONAL HOLDINGS
Invesco Mutual Fund gets Sebi nod for 60% stake transfer to IIHL
Invesco Mutual Fund has received market regulator Sebi approval to transfer a controlling 60 per cent stake to IndusInd International Holdings Ltd (IIHL), according to sources.
IndusInd Bank shareholders reject promoters' proposal to induct nominee directors
IndusInd Bank shareholders rejected a resolution allowing the Hinduja Group to appoint two nominee directors, with 54% voting against it. Despite prior approvals from the RBI and the bank's board, concerns raised by proxy advisors led to the proposal's defeat.
This midcap stock surged up to 22,344% since last Ganesh Chaturthi; 32 others rose up to 2,557%
Since last Ganesh Chaturthi, 33 stocks delivered significant returns. Elitecon International led with substantial growth. Kothari Industrial Corporation and Colab Platforms also saw major surges. Several other stocks, including Paytm, experienced gains. Nifty 50 index saw a slight decrease during this period. Some stocks yielded negative returns. Eicher Motors and Mahindra & Mahindra outperformed within the Nifty pack.
Rajiv Anand’s hot seat at IndusInd comes with a ₹2,000-cr blunder clean-up challenge
IndusInd Bank appoints Rajiv Anand as MD & CEO amidst a crisis following a significant accounting lapse. Anand's appointment, approved by the RBI, aims to stabilize the bank and restore investor confidence after the revelation of overstated financials led to a stock drop. With 35 years of experience, Anand is expected to strengthen internal checks and steer long-term growth.
Ahead of Market: 10 things that will decide stock market action on Wednesday
Indian markets declined on Tuesday amid weak investor sentiment driven by Donald Trump’s tariff warning over Russian oil imports and continued FPI outflows. Sensex dropped 308 points while Nifty ended 66 points lower. Pharma, IT, and oil stocks led the fall.
Buy, Sell or Hold: Nuvama retains Reduce on IndusInd Bank; downgrades SAIL to Hold
Brokerages have turned selective amid mixed sectoral trends. Nuvama downgraded SAIL to 'Hold' and maintained a 'Reduce' on IndusInd Bank due to weak metrics and limited upside. Motilal Oswal stayed 'Neutral' on Balkrishna Industries, citing soft global demand and risks from new ventures. Analysts expect near-term pressure but remain watchful of long-term performance drivers.
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Stock market update: Power stocks up as market falls
The 30-share BSE Sensex was down 149.73 points at 81313.36
Stock market update: Power stocks down as market falls
The 30-share BSE Sensex closed down 721.08 points at 81463.09
IndusInd Bank shares in focus after board approves Rs 30,000-crore fundraising plan
IndusInd Bank shares: As per an exchange filing, the bank plans to raise ₹20,000 crore through debt securities, either in Indian rupees or approved foreign currencies, via private placement. Additionally, it aims to raise ₹10,000 crore through equity instruments such as Qualified Institutional Placement (QIP), American Depository Receipts (ADR), or Global Depository Receipts (GDR).
IndusInd Bank to raise Rs 30,000 crore through equity and debt instruments
IndusInd Bank's board has approved raising up to Rs 30,000 crore through equity and debt instruments. The RBI has allowed the Hinduja Group, the bank's promoter, to nominate two directors to the board. This decision follows a period of crisis for the bank, marked by accounting anomalies and a CEO exit.
Stock market update: Power stocks down as market rises
The 30-share BSE Sensex was up 0.26 points at 82200.6
Stock market update: Power stocks down as market rises
The 30-share BSE Sensex closed up 317.45 points at 82570.91
Stock market update: Power stocks up as market falls
The 30-share BSE Sensex was down 140.68 points at 82359.79
Stock market update: Power stocks down as market falls
The 30-share BSE Sensex closed down 689.81 points at 82500.47
Stock market update: Power stocks up as market falls
The 30-share BSE Sensex closed down 176.43 points at 83536.08
Stock market update: Power stocks up as market falls
The 30-share BSE Sensex was down 90.47 points at 83342.42
Stock market update: Power stocks up as market rises
The 30-share BSE Sensex closed up 700.4 points at 82755.51
IndusInd said to be close to completing Reliance Capital acquisition
IndusInd International Holdings Ltd. is nearing the completion of its acquisition of Reliance Capital for 98.6 billion rupees, with an official announcement expected soon. This deal was approved by the bankruptcy tribunal last year after the Reserve Bank of India took control of Reliance Capital in November 2021 due to payment failures and governance issues.
IIHL to seal RCap buy by January, focus on growth: Ashok Hinduja
Hinduja confirmed that IIHL has secured all necessary regulatory approvals and completed the fund-raising process. The de-listing of Reliance Capital will begin shortly under the supervision of the administrator and the committee of creditors (CoC), with the transaction expected to close by January 2025. The liquidity from subsidiary divestments will enable Reliance Capital to pursue new opportunities.
DPIIT approves RCap's acquisition by IndusInd International Holdings
The Department for Promotion of Industry and Internal Trade (DPIIT) has given the green light to the ₹10,000-crore acquisition of Reliance Capital by IndusInd International Holdings (IIHL). This approval clears the final regulatory hurdle for the deal.
IIHL transfers money to creditors in first step to take over Reliance Capital
Earlier on August 1, creditors to Anil Ambani-promoted Reliance Capital, led by bond holders trustee Vistra ITCL (India) in a letter to Mauritius-based IIHL had warned the Hinduja company about consequences for failing to pay the Rs 2,750 crore to take over the debt-laden company by the July 31 deadline.
Hindujas' acquisition of Reliance Capital hits financing hurdle
"IndusInd International Holdings (IIHL) is trying to reduce the cost by nearly one percentage point and is seeking a cheaper loan through ongoing discussions with the lenders," one of the sources said. "The loan arrangement must be finalised before May 27, as IndusInd International Holdings needs to close the Reliance Capital deal by then," the person added.
IndusInd sets itself a new Rs 4.2 lakh crore target, eyes 2030 timeline
Under the new plan, IIHL is looking to set up a banking, financial services, and insurance portfolio worth $50 billion (Rs 4.2 lakh crore) by 2030. This is including its investment in IndusInd Bank, apart from the new businesses under Reliance Capital, which IIHL won in insolvency proceedings.
CCI clears IndusInd International Holdings Ltd-Reliance Capital deal
In July, Hinduja group-owned IndusInd International Holdings (IIHL), the promoter of IndusInd Bank, announced a USD 1.5-billion capital-raising plan to fund the proposed acquisition of Reliance Capital and increase its stake in the lender. The board of the Mauritius-registered IIHL also decided to increase its holding in Reliance Capital to 26 per cent from the present 15 per cent.
Hindujas eye $35-40 billion valuation of their BFSI business
The Hinduja group is eying a valuation of $35-40 billion for its banking, financial services, and insurance (BFSI) business. Ashok Hinduja, stated that their promoter company, IndusInd International Holdings Ltd (IIHL), will expand into the BFSI sector to become a full-stack financial giant. The group has already acquired a controlling stake in a bank in the Bahamas and received approval for a banking license in Mauritius. IIHL has successfully bid for buying the debt-ridden Reliance Capital.
IndusInd Bank surges 5% on RBI's panel proposals on bank ownership
IndusInd promoters were seeking to increase shareholding in the lender, and one of the suggestions of the panel allows existing promoters to raise ownership.
IndusInd Bank leaps 10% as promoters seek to raise stake
Most analysts tracking the stocks are bullish on the scrip. It has 18 ‘buy’ calls and 11 ‘outperform’ calls, according to a tally by Reuters.
Hindujas may list IndusInd parent IndusInd International Holdings
Hindujas are poised to announce a cyber security joint venture with a US tech major to tackle the opportunities presented by the proliferation of connected devices and IoT in India.
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