The Hindujas will pump another Rs 2,700 crore into IndusInd Bank through a warrant issue to ramp up the promoter holding after the merger of Bharat Financial. The merger between the bank and the Bharat Financial, which will be effective July 4, is accretive from a profit, margin and return on equity perspective.
Merger of Bharat Financial into IndusInd Bank was announced in October 2017, as part of which a shareholder would get 639 shares of IndusInd Bank for every 1,000 shares of the Bharat Financial.
IndusInd Bank is as one of the fastest-growing banks in the banking sector in India.
