HDFC Mutual Fund raises stake in IndusInd Bank to 5%
With an additional share purchase, HDFC Mutual Fund's holding increased to 5.02 percent from 4.82 percent before the stake purchase.
HDFC Mutual Fund raises stake in IndusInd Bank to 5%
IndusInd Bank has reported that HDFC Mutual Fund has acquired an additional 15.92 lakh shares from the market, resulting in crossing 5 percent stake in the bank. The stake increase was announced one day after IndusInd Bank disclosed a significant accounting discrepancy of Rs 2,100 crore, which is estimated to have affected 2.35 percent of the bank's net worth.
The bank's shares experienced a significant price decline shortly after the disclosure. The bank stated in a regulatory filing that the aggregate holding of HDFC Mutual Fund Scheme in IndusInd Bank as of the close of business hours on March 11, 2025, was 5.02 percent of the company's paid-up equity capital.
After March 11, HDFC Mutual Fund held 77.9 crore shares through its numerous schemes, following an additional 0.20 percent stake purchase.
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With an additional share purchase, HDFC Mutual Fund's holding increased to 5.02 percent from 4.82 percent before the stake purchase.
IndusInd Bank had said that the accounting lapse was noted around September- October last year, and the bank gave a preliminary update to the RBI about this last week. The final number will be known after the external agency, which the bank has appointed, finalises its report by early April.
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