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01-Jul2017

IndusInd Bank sells its entire holdings in Kesoram Industries

IndusInd Bank has sold 75,00,000 equity shares (entire holdings) of face value of Rs 10 each of Kesoram Industries at a price of Rs 137 each on June 30, 2017. Pursuant to this, the bank's shareholding in Kesoram Industries thus stands at nil. The shares were acquired pursuant to exercise of Conversion Option on Optionally Convertible Redeemable Preference Shares on June 15, 2017.

Kesoram Industries is in the business of manufacturing and marketing of tyres and cements.

As on March 31, 2017, IndusInd Bank has 1200 branches, and 2036 ATMs spread across 683 geographical locations of the country. The Bank also has representative offices in London, Dubai and Abu Dhabi.




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