IndusInd Bank promoter IIHL to raise stake to 26%, eyes $50 bn valuation

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 …

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Diti Pujara

Diti is a copy editor at The Morning Context. She joins us from Deccan Herald where she oversaw the daily news coverage in the digital vertical as a chief sub-editor. She also managed social media and contributed to data stories and film analysis. Before DH, she was with Reuters as an online producer.

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