IndusInd International Expands Board, Acquires Key BFSI Assets

IndusInd International Holdings Limited (IIHL), the Mauritius-based promoter of IndusInd Bank and owner of IIHL Bank & Trust, Bahamas, has made a significant move to bolster its global financial presence. In a recent board meeting, the company welcomed Mr. Kamal Vachani, partner at Dubai’s Al Maya Group, to its Board of Directors. With his extensive experience across the UAE and GCC markets, Vachani’s induction strengthens representation for IIHL’s growing network of global shareholders.

IIHL, promoted by the Hinduja Family and several hundred high-net-worth individuals from the Indian diaspora, has been on an expansion drive to become a leading global financial services player. The company has strategically acquired a series of key assets across the BFSI sector to complete its para-banking suite.

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Among the recent acquisitions is 100% ownership of Reliance Capital Ltd., including its core subsidiaries in insurance and securities. This encompasses Reliance Nippon Life Insurance, managing assets worth $4.3 billion; Reliance General Insurance, with $2.4 billion in AUM; Reliance Health Insurance; and Reliance Securities. Additionally, IIHL has secured a 60% stake in Invesco Asset Management India, managing assets exceeding $14.5 billion, with regulatory approvals already in place and closure expected by the end of October 2025.

Further broadening its global banking footprint, IIHL acquired 100% of the Bahamas-based private bank formerly known as Sterling, now renamed IIHL Bank & Trust Ltd. These moves are aligned with IIHL’s objective to consolidate its presence across insurance, asset management, securities, private wealth, and other financial sectors, positioning it as a versatile global financial powerhouse.

The expansion reflects IIHL’s commitment to delivering value to its diverse international shareholders while reinforcing its strategic vision of building a comprehensive, integrated financial ecosystem.