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By EquityPandit

IndusInd Bank receives approval from RBI to acquire IL&FS arm

April 4, 2018

IndusInd Bank has received approval from RBI, to acquire the securities services arm of IL&FS.

The bank in a regulatory filing stated, “The Reserve Bank has granted approval for the proposed acquisition.” However, it did not disclose the size of the deal.

Moreover, last year in March, the bank had signed an agreement with Infrastructure Leasing and Financial Services, the promoter shareholder of IL&FS Securities Services Ltd (ISSL), to acquire 100% stake in ISSL.

Read EquityPandit’s Technical Analysis of Nifty Bank Outlook for the Week

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