{"id":75669,"date":"2025-03-20T01:00:10","date_gmt":"2025-03-19T23:00:10","guid":{"rendered":"https:\/\/gulftech-news.com\/en\/?p=75669"},"modified":"2025-03-20T01:00:11","modified_gmt":"2025-03-19T23:00:11","slug":"acquisition-to-catalyse-global-expansion-of-indusind-holdings-in-banking-finance-sector","status":"publish","type":"post","link":"https:\/\/gulftech-news.com\/en\/2025\/03\/20\/acquisition-to-catalyse-global-expansion-of-indusind-holdings-in-banking-finance-sector\/","title":{"rendered":"Acquisition to Catalyse Global Expansion of\u00a0IndusInd Holdings in Banking & Finance Sector"},"content":{"rendered":"\n
\"\"
Acquisition to Catalyse Global Expansion of\u00a0IndusInd Holdings in Banking & Finance Sector<\/figcaption><\/figure>\n\n\n\n

IIHL completes US$1.17 billion Reliance Capital Acquisition<\/mark><\/strong><\/h2>\n\n\n\n

\u00a0IIHL which has a significant shareholder base in the UAE is targeting a Valuation of US$50 billion by 2030: Chairman Ashok Hinduja<\/em><\/mark><\/strong><\/h2>\n\n\n\n

Dubai,:<\/strong>Gulf Tech News<\/strong><\/p>\n\n\n\n

 IndusInd International Holdings (IIHL), which has a significant shareholding from the UAE out of the 600 plus globally dispersed Ultra HNWI stakeholders today said it has completed the acquisition of Anil Ambani\u2019s Reliance Capital (RCAP) at US$1.17 billion, strengthening its resolve for global expansion in the Banking, Financial Services and Insurance (BFSI) sector.<\/p>\n\n\n\n

In a statement, IIHL said the acquisition of RCAP follows a three-year-long resolution process of the debt-ridden company.  The acquisition also paves the way for targeting a valuation of USD 50 billion for IIHL by 2030, said Chairman Ashok Hinduja, adding that the company remains open to exploring global investment opportunities including in the GCC and MENA region.<\/p>\n\n\n\n

\u201cIf the Board recommends any such opportunity, definitely we will look at it; viability has to be there. There are many opportunities coming from Europe, Sri Lanka, and Indonesia. But, unless our investment banking team is comfortable, we will not go ahead,\u201d he said.<\/p>\n\n\n\n

He said the transaction relating to the acquisition from the IIHL side is over and the \u201cjourney for value creation would now begin,\u201d adding that the value of RCAP\u2019s insurance business on a conservative basis would be US$2.34 billion.<\/p>\n\n\n\n

“Now, with this acquisition, we are entering the insurance business in addition to banking. We also took a 60% stake in Invesco’s mutual fund business, and once approvals are in place, we will have a complete presence across the BFSI sector,\u201d Ashok Hinduja said.<\/p>\n\n\n\n

Earlier, IIHL had said it was looking at small banks in European countries such as Switzerland, Liechtenstein, Germany and Luxembourg, and due diligence processes were on. In the same vein, IIHL will also be keen to expand its banking and financial services business in other parts of the world, including in the GCC.<\/p>\n\n\n\n

In the UAE, IIHL\u2019s BFSI business includes IndusInd Bank. .<\/p>\n\n\n\n

Ashok Hinduja said there are about 39-40 entities of RCAP and the new management would divest many of them as they are mostly small shell entities with small businesses. Broking and Asset Reconstruction business will be retained by the new management.<\/p>\n\n\n\n

RCAP registered as a core investment company with India\u2019s Reserve Bank of India (RBI), has several entities, including Reliance Nippon Life Insurance, Reliance General Insurance, Reliance Money, Reliance Securities, Reliance Asset Reconstruction, and Reliance Commercial Finance.  The financial services firm has 1,28,000 lakh employees and the new management would protect the interest of employees to the extent possible.<\/p>\n","protected":false},"excerpt":{"rendered":"

Acquisition to Catalyse Global Expansion of\u00a0IndusInd Holdings in Banking & Finance Sector IIHL completes US$1.17 billion Reliance Capital Acquisition \u00a0IIHL which has a significant shareholder base in the UAE is targeting a Valuation of US$50 billion by 2030: Chairman Ashok Hinduja Dubai,:Gulf Tech News  IndusInd International Holdings (IIHL), which has a significant shareholding from the …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[642],"tags":[1956,946],"class_list":["post-75669","post","type-post","status-publish","format-standard","hentry","category-tie-business","tag-ashok-p-hinduja","tag-technology-news"],"yoast_head":"\nAcquisition to Catalyse Global Expansion of\u00a0IndusInd Holdings in Banking & Finance Sector - Gulf Tech News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gulftech-news.com\/en\/2025\/03\/20\/acquisition-to-catalyse-global-expansion-of-indusind-holdings-in-banking-finance-sector\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Acquisition to Catalyse Global Expansion of\u00a0IndusInd Holdings in Banking & Finance Sector - 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