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IIHL targets $50 billion valuation by 2030: Chairm

IIHL targets $50 billion valuation by 2030: Chairman Ashok Hinduja The Hinduja Group arm will raise stake in IndusInd Bank to 26%; IIHL, Aasia Enterprises acquisition of Rel Cap to meet Irdai norms Mauritius-based IndusInd International Holdings (IIHL) is targeting a valuation of $50 billion by 2030 with the acquisitions of the debt-ridden Reliance Capital and Invesco Mutual Fund, even as its investments grow in IndusInd Bank and other companies across the world, IIHL Chairman Ashok Hinduja said. In a media interaction on Friday, he said IIHL was in the process of increasing its stake from 15 per cent to 26 per cent in IndusInd Bank and was looking to acquire smaller-sized banks in various European countries. “We have received the letter from the Reserve Bank of India (RBI), which clearly (asked us) to follow the process (to raise stake in IndusInd Bank), (in accordance with) guidelines. The various forms have been completed. The same has gone to IndusInd Bank. The bank has also cleared it through its board. Now it has gone to the regulator. I am hoping that maybe in a week or two, we should get their response,” Hinduja said. ©SHIRSENDU KARMAKAR #IIHL #Ashok_Hinduja
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