IndusInd Bank Promoters Release Pledge on 5.98 Crore Shares Worth ₹7,667 Crore

IndusInd Bank has witnessed a significant corporate action with its promoter entities releasing pledges on a substantial portion of the bank's equity shares. The transaction, completed on March 27, 2026, involved the release of pledges by two key promoter entities under SEBI disclosure regulations pursuant to Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Promoter Pledge Release Details

IndusInd International Holdings Limited and IndusInd Limited, both promoter entities of the bank, released their pledges on equity shares as part of regulatory compliance. The disclosure was made on March 28, 2026, with both entities signing the disclosure documents in Mauritius.

Promoter Entity: Shares Released Percentage Current Holding IndusInd International Holdings Limited: 3,17,85,006 4.08% 8,95,37,464 (11.49%) IndusInd Limited: 2,79,78,546 3.59% 2,79,78,546 (3.59%) Total Released: 5,97,63,552 7.67% 11,75,16,010 (15.08%)

Transaction Structure and Timeline

The pledge release represents the culmination of multiple encumbrance events dating back to February 2021. The regulatory filing reveals a comprehensive history of pledge creation and release activities involving both promoter entities.

Parameter: Before Release After Release Total Promoter Holding: 11,75,16,010 shares (15.08%) 11,75,16,010 shares (15.08%) Encumbered Shares: 5,97,63,552 shares (7.67%) NIL Encumbered as % of Promoter Holding: 50.86% NIL

Historical Encumbrance Activity

The disclosure details multiple encumbrance events spanning from February 2021 to the current release. Key milestones include pledge creation in February 2021 involving 4,27,30,522 shares (5.64% of total share capital) and subsequent pledge creation in April 2021 covering 1,07,11,348 shares (1.38% of total share capital).

Regulatory Compliance Framework

The disclosure confirms that the encumbered shares represented 50.86% of total promoter shareholding, which exceeded the 50% threshold requiring detailed regulatory reporting under SEBI regulations. However, the encumbered portion did not exceed 20% of the bank's total share capital, maintaining compliance with regulatory limits.

Capital Details: Shares Total Paid-up Equity Shares: 77,90,75,972 Face Value per Share: ₹1 Listing Exchanges: BSE Limited, NSE

The pledge release represents a complete divestment of the promoters' encumbered positions, executed as part of their facility agreements with Barclays Bank PLC and Deutsche Bank AG, London Branch. Both entities maintained their total shareholding in the bank while releasing the encumbered portions, ensuring no change in overall promoter stake.

IndusInd Bank Limited has successfully concluded its postal ballot process with shareholders overwhelmingly approving the appointment of Mr. Arijit Basu as Non-Executive Independent Director and Part-time Chairman. The special resolution was passed on March 27, 2026, marking a significant milestone in the bank's leadership structure.

Overwhelming Shareholder Support

The postal ballot results demonstrate exceptional shareholder confidence in the proposed appointment. Out of 582,615,384 votes polled, an impressive 580,749,128 votes were cast in favor of the resolution, representing 99.68% approval. Only 1,866,256 votes were cast against the proposal, accounting for merely 0.32% of the total votes.

Voting Results: Details Total Votes Polled: 582,615,384 Votes in Favor: 580,749,128 (99.68%) Votes Against: 1,866,256 (0.32%) Member Participation: 2,347 members Polling Percentage: 74.78% of outstanding shares

Category-wise Voting Pattern

The voting results across different shareholder categories revealed unanimous support from the promoter group and strong backing from institutional and retail investors. The promoter and promoter group, holding 117,516,010 shares, voted 100% in favor of the resolution with complete participation.

Shareholder Category: Shares Held Votes Polled Polling % In Favor % Promoter Group: 117,516,010 117,516,010 100.00% 100.00% Public Institutions: 497,108,578 434,432,654 87.39% 99.57% Public Non-Institutions: 164,451,504 30,666,720 18.65% 99.94%

Remote E-voting Process Details

The postal ballot was conducted entirely through remote e-voting facilitated by National Securities Depository Limited. The voting period commenced at 9:00 AM on February 26, 2026, and concluded at 5:00 PM on March 27, 2026. The process was conducted in compliance with the Companies Act, 2013, and SEBI regulations, with February 20, 2026, set as the cut-off date for determining voting eligibility.

Leadership Transition

Mr. Arijit Basu, bearing Director Identification Number 06907779, will assume the role of Non-Executive Independent Director and Part-time Chairman of the bank. The appointment represents a strategic leadership decision that has garnered widespread shareholder approval across all investor categories.

Regulatory Compliance

The postal ballot process was overseen by scrutinizer Alwyn D'Souza of M/s. Alwyn Jay & Co., Company Secretaries, Mumbai. The bank fulfilled all regulatory requirements under the Companies Act, 2013, and SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The postal ballot notice was dispatched electronically to members on February 24, 2026, with advertisements published in Financial Express and Loksatta newspapers on February 25, 2026.

The successful completion of this postal ballot process with such overwhelming support reflects strong shareholder confidence in IndusInd Bank's governance and strategic direction under the new leadership appointment.

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