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Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
Director Ashok Hinduja said IIHL is working towards listing on Afrinex, a Mauritian stock exchange.
The Hinduja Group’s IndusInd International Holdings Ltd (IIHL) will raise its stake in IndusInd Bank from 16% to 26% in multiple tranches and continue with investments as it eyes a $50 billion valuation by 2030.
Mauritius-based IIHL’s latest target valuation is 25% higher than its last. Just last month it acquired a 60% stake in US-based asset management company Invesco’s Indian arm. For IIHL, the Invesco deal came soon after its contested acquisition of debt-ridden Reliance Capital was approved by the National Company Law Tribunal.
The Reserve Bank of India initiated bankruptcy proceedings against Reliance Capital in November 2021 …
The Kerala-based bank has been chasing costly and risky bulk term deposits amid tanking profitability.
As the private lender reeled from serial scandals, Hinduja insisted he was merely a shareholder. Board-level links, conflicts of interest and regulatory blind spots suggest otherwise.
After successive controversies and growing unease over promoter influence, the central bank is reshaping the lender—starting with management, moving to its board and tightening the screws on ownership.
