IndusInd Bank buys IL&FS Securities; capital market deal to boost growth

It will augment overall growth for IndusInd, which is on a path to double its retail customer base to over 20 million and expanding its geographical reach

IndusInd Bank was one of the few large private banks without a major presence in the capital market business. With Tuesday’s announcement of acquiring IL&FS Securities Services (ILFS), it has partly bridged this gap. Even the Street cheered with the stock hitting its 52-week high at Rs1,995 in Wednesday’s trading, before closing about a per cent lower as broader markets fell.

 
IndusInd has growth potential, given the looming merger of Bharat Financial, an expected 25-30 per cent rise in loan book owing to recovery