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Induslnd Bank moves up on plan to acquire Diamond and Jewellery financing business of RBS

13 Apr 2015 Evaluate

IndusInd Bank is currently trading at Rs. 948.10, up by 2.65 points or 0.28% from its previous closing of Rs. 945.45 on the BSE.

The scrip opened at Rs. 951.00 and has touched a high and low of Rs. 951.00 and Rs. 941.00 respectively. So far 34816 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 959.00 on 04-Mar-2015 and a 52 week low of Rs. 472.00 on 05-May-2014.

Last one week high and low of the scrip stood at Rs. 951.10 and Rs. 897.00 respectively. The current market cap of the company is Rs. 50106.45 crore.

The promoters holding in the company stood at 15.09%, while Institutions and Non-Institutions held 48.71% and 23.98% respectively.

Induslnd Bank has entered into an agreement with Royal Bank of Scotland N.V. (RBS) to acquire its Diamond and Jewellery financing business in India and related deposit portfolio; subject to regulatory approval. This is part of ABN AMRO Bank N.V.’s Diamond & Jewellery Clients that is housed in Royal Bank of Scotland N.V. acting through its Mumbai branch in India. The Royal Bank of Scotland N.V. Diamond and Jewellery financing loan book is approximately Rs 4,500 crore in size.

Until ownership of the loans transfer to Induslnd Bank, the day to day management of the loan portfolio will remain with Royal Bank of Scotland N.V. Employees within Diamond and Jewellery Clients in India will also move to Induslnd Bank and will ensure seamless transition of the customer base.

Induslnd Bank specializes in the Diamond and Jewellery financing business and this acquisition will enhance its position. Several members of Induslnd Bank’s senior management had been associated with this portfolio in Royal Bank of Scotland N.V. and prior to that in ABN AMRO Bank N.V.

Indusind Bank Share Price

853.15 4.60 (0.54%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
HDFC Bank 799.90
ICICI Bank 1347.50
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Kotak Mahindra Bank 383.50
Indusind Bank 853.15
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