Corporate News 14-Oct-23
IndusInd Bank update on RBI approval to SBI MF for acquisition of up to 9.99% stake
IndusInd Bank announced that Reserve Bank of India (RBI) while granting approval to SBI MF for acquisition of 9.99% of the paid-up share capital or voting rights in IndusInd Bank, has also conveyed to SBI MF that if they fail to acquire major shareholding in the Bank within a period of one year from the date of 10 October 2024, the RBI approval shall stand cancelled. Further, SBI MF must ensure that the aggregate holding in the Bank does not exceed 9.99% of the paid-up share capital or voting rights of the Bank at all times.
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