Promoters will infuse capital into IndusInd if needed: Ashok Hinduja

Promoters stand ready to inject capital into IndusInd Bank if necessary, said Ashok Hinduja, chairman of IndusInd International Holdings Ltd (IIHL), said on Tuesday.

- SUBRATA PANDA

However, with the bank's capital adequacy at comfortable levels, he stressed, there is no immediate requirement for fresh funds, nor has the bank sought additional capital.

IIHL, which currently holds a 15 per cent stake in IndusInd Bank, has been awaiting regulatory clearance to raise its stake to 26 per cent.

Hinduja said this is "an opportune time" for promoters to increase their stake, as the bank's shares have taken a hit following last week's disclosure of discrepancies in its derivatives portfolio, which could dent the bank's net worth by more than 2 per cent.

The credibility of the bank, he noted, will depend on the findings of an external audit by PwC, which has been engaged to review the derivatives portfolio.