No talks are underway with Kotak Mahindra Bank, Industrial Bank clarified

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- Kotak is trying to capture Mahindra IndusInd Bank

New Delhi Dated 26th October 2020 Monday

IndusInd Bank clarified that no negotiations are underway with our Kotak Mahindra Bank. There was speculation in the market that Kotak Mahindra Bank was in the process of seizing IndusInd Bank.

Kotak Mahindra Bank is a private bank with a capital investment of Rs 2.75 lakh crore while IndusInd Bank has an investment of Rs 50,000 crore. In a letter to the National Stock Exchange, IndusInd Bank clarified that it was not in talks with Kotak Mahindra Bank to sell our bank. Such reports are mere illusions. These reports were false.

Sources close to the deal said on condition of anonymity that the details of the deal were still in the early stages. At present no concrete information can be given about it.

It was decided that if Kotak Mahindra Bank bought IndusInd Bank, Kotak Mahindra's position in the retail segment was likely to be stronger than it is now. However, IndusInd International Holdings Ltd. There are only rumors. The whole thing was baseless and wrong. Koti IndusInd International Holdings was run by Hinduja brothers and other successful NRI Indians.


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