IndusInd International Holdings aims for a $50bn valuation by 2030, targets Reliance Capital and Invesco Mutual Fund acquisitions, and awaits regulatory approval for Reliance Capital acquisition.
IndusInd International Holdings (IIHL) aims for a $50bn valuation by 2030, targeting acquisitions of debt-ridden Reliance Capital and Invesco Mutual Fund. IIHL is waiting for approval from India's insurance watchdog, Irdai, for its Rs 9,650-crore ($1.3bn) acquisition of Reliance Capital. Once approved, IIHL plans to pay the sum within 48 hours and complete the deal. With a 16% stake in IndusInd Bank, the Hinduja Group plans to raise it to 26% in multiple tranches. IIHL has received RBI approval to raise its stake, but the regulatory process is ongoing. The group has also tied up Rs 7,500 crore ($1.03bn) from banks for the acquisition of Reliance Capital.
May 05, 2024
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