IIHL approves capital raising of up to $1.5 bn for strategic objectives
IIHL is likely to be listed by 2024
IndusInd International Holdings Limited (IIHL), the promoter of IndusInd Bank, is set to expand its business horizon in India and other nations, in the Banking Finance Services and Insurance (BSFI) sector, according to a press release by Induslnd.
Ashok P Hinduja, chairman, IIHL, said that this plan will help in expanding IIHL's business and IIHL’s aspirations will not be capital constrained as raising capital for IIHL is not an issue.
The IIHL Board approved the capital raising of up to $1.5 billion to meet its two strategic objectives. The first objective of the capital raising is to increase its promoter shareholding in IndusInd Bank from 15 per cent to the proposed 26 per cent, as they are eligible to increase their shareholding ...