IndusInd Bank share price recovers after THIS clarification given by the Bank on the exchanges

IndusInd Bank share price today is Rs 1007, down Rs 21 or 2%. IndusInd Bank share price made an intraday low of Rs 964 today on rumors that IndusInd Bank is a subsidiary of Hinduja Bank. The intraday high on the IndusInd Bank is Rs 1037.35. The 52 high on IndusInd Bank share price is Rs 1119.5 and low is Rs 405. The market cap of IndusInd Bank is Rs 78000 cr. 

IndusInd Bank clarifies on exchanges that they come across certain false reporting / information in the media stating that IndusInd Bank is a subsidiary of Hinduja Bank. IndusInd Bank denies the said media report and considers it to be malicious, untrue, and baseless. IndusInd Bank desires to clarify that it is not a subsidiary of any entity. The Bank wishes to further clarify that it is promoted by IndusInd International Holdings Ltd. (IIHL) and its subsidiaries. IIHL is a Mauritius-based company set up by overseas Indians and no ‘one’ shareholder is in control of IIHL.

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IndusInd Bank is a universal Bank with a widespread banking footprint with over 2.5 crore customers, over 5,000 distribution points and nearly 2,000 branches across the country. With ‘Sustainability’ at the core, we offer a wide array of products and services for individuals and corporates including microfinance, personal loans, personal and commercial vehicles loans, credit cards, SME loans. IndusInd Bank is also a preferred banking partner for various Government entities, PSUs and large corporates.

Established in 1994 by Srichand P Hinduja, the name ‘IndusInd’ Bank was inspired by the Indus Valley Civilisation - one of the greatest cultural examples of a combination of innovation with sound business and trade practices. Over the years, IndusInd Bank has grown ceaselessly and dynamically driven by a zeal to offer their customers banking services at par with the highest quality standards in the industry.