IndusInd Bank buys IL&FS Securities; capital market deal to boost growth

It will augment overall growth for IndusInd, which is on a path to double its retail customer base to over 20 million and expanding its geographical reach.

Stock Market News » IndusInd was one of the few large private banks without a major presence in the capital market business. With Tuesday’s announcement of acquiring IL&FS Securities Services (ILFS), it has partly bridged this gap.

Even the Street cheered with the stock hitting its 52-week high at Rs1,995 in Wednesday’s trading, before closing about a per cent lower as broader markets fell. ALSO READ: IndusInd, DBS Bank go to tribunal against Jyoti Structures' resolution plan IndusInd has growth potential, given the looming merger of Bharat Financial, an expected 25-30 per cent rise in loan book.

About IndusInd Bank Ltd.

IndusInd Bank Ltd is one of the new generation private sector banks in India. The Bank's business lines include corporate banking retail banking treasury and foreign exchange investment banking capital markets non-resident Indian/high-net-worth individual banking and information technology. The Bank business divisions include Retail/ Consumer Banking Consumer Finance Global Markets Group Corporate & Commercial Banking Transaction Banking Group and Investment Banking. As on 31 December 2017 the bank had 1320 branches and 2162 automated teller machines (ATMs) spread across 702 geographical locations of the country.

The bank also has representative offices in London Dubai and Abu Dhabi.The bank provides multi-channel facilities which includes automated teller machines (ATMs) net banking mobile banking phone banking multi-city banking and international debit cards. The Bank has multi-lateral tie-ups with other banks providing access to more than 18000 ATMs for their customers. They enjoy clearing bank status for both major stock exchanges - BSE and NSE - and three major commodity exchanges in the country - MCX NCDEX and NMCE. They also offer DP facilities for stock and commodity segments. IndusInd Bank Ltd was incorporated in the year 1994 and was promoted by Mr Srichand P Hinduja a leading Non-Resident Indian businessman and head of the Hinduja Group. The Bank started their operations with a capital amount of Rs 1000 million among which Rs 600 million was donated by the Indian Residents and Rs.400 million was raised by the Non-Resident Indians.

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