After a successful stint at the helm of IndusInd Bank, Romesh Sobti is likely to join the board of Aditya Birla Capital, sources said.

Aditya Birla Group’s financial services arm Aditya Birla Capital has applied for Reserve Bank of India (RBI) approval for Sobti’s induction on its board, added sources.

Sobti, who retired as MD and CEO of IndusInd Bank in March this year, is likely to be private equity firm Advent’s nominee on AB Capital board. He joined Advent as Operating Partner.

Advent holds a 4.15 percent stake in Aditya Birla Capital with an investment of Rs 1,000 crore.

The industry veteran Sobti was MD and CEO of IndusInd Bank since February 1, 2008.

Advent and Aditya Birla Capital did not offer any comment on CNBC-TV18’s query.

(This is a developing story)

First Published:Dec 8, 2020 12:39 PM IST