Indusind Bank led by ex ABN AMRO(RBS) CE Ramesh Sobti grew into invesor confidence with H1performance growing assets to INR 250 bln and balance sheet to INR 330 bln New banks are likely 2 years further down the road in India with new private  sector commercial banking regulations setting the bar and requiring changes to voting regulations and some ther in the Banking regulation in the Parliament. 

Indusind shares have tripled in one year and two QIPs of $100 mln and $250 mln were conducted at INR 88 per share and INR 234 per sahare in the September 2009 and September 2010

Earlier Rabobank sold most of its 26% holding in YES ( 75 mln shares sold ) exiting the investment at around 26 times its price offered at the time of founding of the bank. Foreign institutions hold only 4.76% in YES and Rabobank stake was bought by domestic investors(LIC) and mutual funds(birla Mutual Fund and DSP Merrill MF) apart from a couple of Citigroup customers (3.06 mln shares)

It had reported ly spent a $100 mln on the DB credit card portfolio last year

Posted via email from The India Investment Post