IndusInd Bank shares rise as SBI MF to buy 9.9% stake
The RBI on October 11 gave approval to SBI Mutual Fund to acquire 9.99% of the paid-up share capital in IndusInd Bank.
The RBI on October 11 gave approval to SBI Mutual Fund to acquire 9.99% of the paid-up share capital in IndusInd Bank.
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Gupta has been serving as a full-time director of the bank since January 1999 and has been designated as the joint MD since January 1, 2022.
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After the proposed transaction, Max Financial Services, which is the holding company of Max Life, will have an 80.98% stake in the insurance firm.
SBI shares ended 2.94% lower at ₹573.25 on the BSE amid surge in selling activities post Q1 results.
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