IndusInd Bank up 4% on plans to sell off Rs 1,573-cr of microfinance loans

IndusInd Bank wants to sell off microfinance loans as stress in the microfinance sector is increasing. Through public bidding, IndusInd Bank plans to auction these distressed assets.

IndusInd Bank shares gained 4.1 per cent in trade on BSE, logging an intraday high at Rs 970.50 per share. The buying in the stock came after according to the auction document, the bank is seeking to offload Rs 1,573 crore of non-performing microfinance retail loans.

 

Around 11:54 AM, IndusInd Bank share price was up 3.27 per cent at Rs 962.65 per share on BSE. In comparison, the BSE Sensex was up 0.48 per cent at 78,845.82. The market capitalisation of the company stood at Rs 74,983.72 crore. The 52-week high of the stock stood at Rs 1,694.35 per share and the 52-week low stood at Rs 927.05 per share.

 

 

The bank wants to sell off microfinance loans as stress in the microfinance sector is increasing. Through public bidding, IndusInd Bank plans to auction these distressed assets. 

 

The bank has invited bids on a full cash basis (100 per cent cash basis) from entities interested in acquiring these assets, according to the auction document. The reserve price set by the bank for selling the assets is Rs 85 crore, which would translate into a recovery of 5.04 per cent.

 

IndusInd Bank is a leading private sector bank in India, established in 1994 and headquartered in Mumbai. The bank offers a comprehensive range of financial services, including retail banking products like savings accounts, personal loans, credit cards, and insurance, as well as corporate banking solutions such as trade finance and treasury operations. Known for its innovative approach, IndusInd Bank has a strong focus on digital banking, providing advanced mobile and internet banking platforms. 

 

It also offers wealth management and investment advisory services for high-net-worth individuals. With a robust presence in consumer finance, microfinance, and rural banking, the bank emphasises customer satisfaction and transparency, making it a trusted name in India’s financial sector.

 

In the past one year, IndusInd Bank shares lost 41.6 per cent against Sensex's rise of 9 per cent.