This will also result in a lower CASA ratio, but reduce our dependency on this category for deposits in future.”On April 3, IndusInd Bank clarified that there is "no specific transaction under consideration by the board at this stage" in response to reports that the firm is looking to raise as much as USD 500-750 million in ‘confidence capital’ from marque global investors.
The hedge fund … "The bank is well capitalised with Tier I ratio of 15 percent and capital adequacy ratio (CAR) of 15.43 percent. Mumbai, Jul 24 (PTI) Hedge fund Route One Investment Company will be doubling its stake in Indusind Bank to 10 per cent, the private sector lender said on Friday. Moneycontrol is awaiting an email response from IndusInd Bank and Route One Investment Company and has sent reminders.
IndusInd Bank to raise up to $500 million, Route One among anchor investors: Report Last week, the US-based hedge fund received RBI's approval to … We stay committed to evaluate alternatives from time to time that may benefit our stakeholders," the private lender said in a communication to the exchanges.On July 5, the bank said its deposits stood at Rs 2,11,970 crore in Q1 FY21, up 6 percent year-on-year.
Route One Fund I, L.P. is one of the larger private funds with 2 billion in assets.
There is no specific transaction under consideration by the board of the bank at this stage. The preferential allotment is the quickest route for fund raising and the ‘fit and proper’ criteria was also applied on the investor and approved as part of the process, the second individual added.The banking regulator has taken steps in the past for a closer scrutiny of the shareholding of private sector banks. Hedge Fund Route One To Double Its Stake In IndusInd Bank To 10 Pc आरबीआई से मिली मंजूरी: इंडसइंड बैंक में हिस्सेदारी दोगुनी बढ़ाकर 10% तक ले जाएगा हेज फंड रूट वन They hold $4.2 billion in assets under management as of March 1, 2017. US-based hedge fund Route One Investment Company has initiated talks with IndusInd Bank to increase its stake in the Hinduja Group-backed lender, which is exploring multiple options to strengthen its Balance Sheet and raise capital, sources told Moneycontrol.“Route One Investment Company currently holds a 5.41 percent stake in IndusInd Bank through two entities. 62400/KgHome Loan: Check The Latest Interest Rates On Loans Up To Rs. Route One Investment Company is a hedge fund company based in San Francisco, CA. ROUTE ONE FUND I, L.P. Hedge Fund Delaware United States GAV: $ 2,366,955,253 (reported: 2019-03-01) 128 Beneficial Owners 0% of clients invested The current minimum investment for Route One Fund I, L.P. is $10000000. But a final call is yet to be taken by the bank’s board,” an individual privy to the proposed transaction told Moneycontrol.A few other investors may also join Route One and participate in what could potentially be a wider fundraising round through the preferential allotment route, under which the bank could dilute a combined stake of 10 percent to all parties, this individual elaborated. 20 percent of the fund is owned by fund of funds. Market regulator Sebi had recently announced a temporary relaxation in the framework for preferential allotment of shares to facilitate easier fund raising.“The promoters -- Hinduja group -- are also keen to hike their stake in IndusInd Bank to 26 percent from the current 14.34 percent (close to regulatory cap of 15 percent) and that is a parallel ongoing process, but that is subject to the RBI’s approval,” said a fourth individual.All the four individuals spoke to Moneycontrol on condition of anonymity.
Based on the current market capitalisation of IndusInd Bank, a 10 percent stake is valued at nearly Rs 3,650 crore.“RBI was approached for permission and Route One Investment Company has obtained the requisite approval from the regulator for the stake hike,” said a second individual. PTI AA MKJ10 women leaders in the tech industry you probably haven't heard ofRailways Suspends Regular Passenger Services Indefinitely; Special Trains To RunTesla sets 5-1 stock split and its high-flying stock soars again[Infographic] Women More Aspirational Than Men, Finds 2020 StudyExclusive comparison test: 2020 Skoda Karoq vs VW T-Roc1 Minute Read: What You Need To Know Before Taking A Personal Loan Top-Up6 people including mother arrested for selling 2-month-old childGold Prices Plunge To Rs. US-based hedge fund Route One Investment Company has initiated talks with IndusInd Bank to increase its stake in the Hinduja Group-backed lender, which is exploring multiple options to strengthen its Balance Sheet and raise capital, sources told Moneycontrol. You can view more information on Route One Investment Company including private fund info, contact info, top management and executives, website, email addresses, and more below: 30 LakhHome Loan Conversion vs. Balance Transfer: How to Decide?SBI Pension Seva: 4 Easy Steps To Register And It’s Benefits
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