IndusInd Bank gets RBI nod to acquire IL&FS arm
NEW DELHI: Private sector lender IndusInd Bank today said it has received RBI's approval to buy the securities services arm of IL&FS.
The deal size was however not known.
"The Reserve Bank has granted approval for the proposed acquisition," IndusInd Bank said in a regulatory filing.
In March 2017, the bank entered an agreement with Infrastructure Leasing and Financial Services, the promoter shareholder of IL&FS Securities Services Ltd (ISSL), to acquire 100 per cent stake in ISSL.
IndusInd Bank stock was trading 1.84 per cent down at Rs 1796.30 on BSE.
The deal size was however not known.
"The Reserve Bank has granted approval for the proposed acquisition," IndusInd Bank said in a regulatory filing.
In March 2017, the bank entered an agreement with Infrastructure Leasing and Financial Services, the promoter shareholder of IL&FS Securities Services Ltd (ISSL), to acquire 100 per cent stake in ISSL.
IndusInd Bank stock was trading 1.84 per cent down at Rs 1796.30 on BSE.
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