mumbai after taking the world in his steel grip steel magnete lakshmi mittal has now sets his eyes on the lucrative indian banking sector in what can be seen as a prelude to fulfil his ambition the indiaborn british billionaire is quietly hiking his stake in the listed indiabulls financial services ltd ibfsl a company in which he invested six years back mittal will end up owning 10 compared to the current 4 after ibfsl undergoes a complete restructuring in four months apart from ibfsl he will also continue owning 4 each in india bulls real estate and india bulls securitiesmittal whose interest goes beyond steel to energy jv with ongc will increase his stake after ibfsl the parent company promoted by three iitians restructure its businessess in four monthsibfsl has three businesses stock broking indiabulls stock broking isl consumer finance india bulls consumer services icsl and housing finance indiabulls housing finance ihfl its real estate venture indiabulls real estate ibrel was demerged into a seperate company in december last yearthe restructuring will be in three stages first ibfsl the parent will demerge isl into a seperate company the firm with 10 marketshare and daily volumes of rs 4000 crore will be a standalone entity post demerger it will be listed indiabulls officials were unavailable for commentthen ibfsl will be merged with icsl owned 53 by three promoters saurabh mittal sameer ghlaut and rajiv rattan the rest is shared between mittal 10 and us farallon capital 37 the merger will result in mittal owning 10 from 4 and farallon 18 12 in ibfslthen ibfsl will acquire farallons 33 stake for around rs 112 crore and become a 100 ibfsl arm the rejig is a percusor to preparing itself to convert ibfsl into a full fledged bank ibfsl will have asset base of rs 14000 cr consumer finance rs 4000 cr housing finance asset rs 10000 cr and a equity capital of rs 2000 croreibfsl which had two misses when it came to acquiring sick banks does not want to lose any such future opportunities it bid to buy united western bank which idbi acquired and bank of punjab the company is now strenghthening its asset base equity and expanding its business portfolio