The private sector IndusInd Bank can be bought by Kotak Mahindra Bank. In such a situation, the tension of the customers has increased. What will happen to their bank accounts? Let’s know all the things related to it
New Delhi: Reports of merger of Kotak Mahindra Bank and IndusInd Bank of private sector are coming out. Kotak Mahindra Bank may take over the private sector IndusInd Bank, but IndusInd Bank’s promoter company IndusInd International Holdings Limited (IIHL) has denied this. IIHL said that at present, the company has no such plan. According to the report released late on Sunday evening, Bloomberg said that Kotak Mahindra Bank can acquire the entire stock. Also, Bloomberg said that the discussion of selling it came to light only after a dispute between four brothers of Hinduja family living in UK.
What is IndusInd Bank’s market cap
According to the news of English newspaper The Times of India, IndusInd promoters currently hold less than 15 percent stake in IndusInd Bank. In addition, 85 per cent of the outstanding shares are held by wholesale institutional investors. At this time, the price of the bank’s share in the market is more than 607 rupees, with a growth of 60 percent. Apart from this, the market cap of the bank is close to Rs 46,000 crore.
know whose share will increase after merger
Apart from this, if we talk about Kotak Bank, this time the market is about 20 percent below the 52-week high. At the same time, its market cap is Rs 2.7 lakh crore. If the merger of both banks at current prices, then the share of Hinduja promoters will increase by 2 per cent. If the merger of these two banks
collapses in the lockdown,
a banking deal will be done between Kotak and IndusInd Bank, because Kotak Bank has strong capital and a good asset in the market at the moment. Explain that after the sale of shares worth Rs 7,442 crore amid lockdown, promoter Uday Kotak’s stake has fallen by almost 26 per cent.
The bank official gave the information
, Rohit Rao, Chief Communications Officer of Kotak Mahindra Group, said, “We have no comment.” IIHL, a Mauritius company, denied Bloomberg’s report saying that we have no information about this.
RBI had imposed penalty
tell you recently, Reserve Bank of India (RBI) imposed a penalty of Rs 4.5 crore on IndusInd Bank. The bank did not follow some RBI instructions. However, RBI said that the validity of any transaction or agreement between the bank and the customer was kept as before.