IndusInd Bank promoters deny report of raising funds via share pledge

In response to recent media speculation, IndusInd Bank's promoters have denied claims of raising funds by pledging their stake in the bank.  The controversy stemmed from a Business Standard article titled "Hindujas raise Rs 8000 crores by pledging IndusInd stake," which the lender labeled as "malicious and factually incorrect."

IndusInd Bank emphasised that information regarding the pledge of a listed entity is readily available in the public domain and can be verified through official channels, including the bank's website and stock exchanges.

"IndusInd International Holding Limited and its subsidiary IndusInd Limited are the promoters of the IndusInd Bank. The promoter entities’ pledge of shares as on date works out to 6.87% of the paid-up share capital of the IndusInd Bank and has remained unchanged since long," it said.

It added that there has been no incremental pledge by the promoters nor there is any intent to pledge any more promoter shareholding in IndusInd Bank.

At the time of writing the report, IndusInd Bank shares were trading 0.90 percent lower at ₹1488.55 on the BSE.

Earlier this month, IndusInd Bank launched 'Platinum RuPay Credit Card,' in partnership with the National Payments Corporation of India (NPCI). With this credit card, customers will be able to engage in online and offline transactions through the RuPay network.