The promoters, IndusInd International Holdings Ltd. and IndusInd Ltd., currently hold 14.68 per cent of the paid-up share capital of the bank.
“The promoters shall now purchase additional shares from the open market within the overall regulatory limit prescribed for promoter equity holding cap,” IndusInd Bank
said in an exchange filing on Friday, June 5, 2020.
In April, the bank had said that the promoters have applied to the Reserve Bank of India for increasing their permissible holdings to 26 per cent. On a fully diluted basis, the promoters have a holding of 14.68 per cent which is very close to the current regulatory cap of 15 per cent.
That apart, the matter of adjusted gross revenue (AGR) will be heard by the Supreme Court later today. The hearing may include the government's application that telecom companies be allowed to spread the payment of their dues over 20 years or less.CLICK HERE TO READ FULL REPORT
Analysts at Emkay Global Financial Services believe the bank’s near-term performance will track its ability to manage Covid-19-led disruptions on its growth/asset quality and the outcome on Voda-Idea/IL&FS. "However, new Managing Director’s strategy to focus on retailisation of assets/liabilities should help the bank in the long run, driving-in better and sustainable RoAs," the brokerage firm said in results update on April 27.
At 09:57 am, IndusInd Bank
was trading 6 per cent higher at Rs 533 on the BSE, as compared to 0.30 per cent decline in the S&P BSE Sensex. A combined 21 million equity shares have changed hands on the counter on the BSE and NSE till the writing of this report.