IHC, First Abu Dhabi Bank, others in talks to acquire stake in Bandhan Bank promoter

Sovereign funds and private equity firms including Abu Dhabi’s IHC, First Abu Dhabi Bank, Qatar Investment Authority, Carlyle and EQT are in discussions to acquire a stake in Bandhan Financial Services (BFSL), the promoter of publicly listed Bandhan Bank. The potential transaction aims to provide an exit for early-stage investors, including Singapore-based GIC and the International Finance Corporation (IFC), which collectively hold a 30.3% stake in the firm. Jefferies has been engaged to advise on the deal.Founded by Chandra Shekhar Ghosh, BFSL operates subsidiaries across banking, technology, asset management, and life insurance. Under Reserve Bank of India rules, the promoter is required to reduce its stake in the bank to 26% by 2030.