Private sector lender IndusInd Bank today said it has received RBI’s approval to buy the securities services arm of IL&FS. The deal size was however not known. “The Reserve Bank has granted approval for the proposed acquisition,” IndusInd Bank said in a regulatory filing.
In March 2017, the bank entered an agreement with Infrastructure Leasing and Financial Services, the promoter shareholder of IL&FS Securities Services Ltd (ISSL), to acquire 100 per cent stake in ISSL.
IndusInd Bank stock was trading 1.84 per cent down at Rs 1796.30 on BSE.