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HDFC sells 3.08 % in Bandhan Bank for Rs.1,522-Cr

Business Standard  

Housing Development Finance Corporation (HDFC) has sold 4,96,32,349 shares (3.08% equity) of Bandhan Bank at an average price of INR 306.61 per share. The divestment aggregates to nearly INR 1,522 crore. HDFC has sold a total 7,96,32,349 equity shares of Bandhan Bank representing 4.94% of the paid-up share capital. As of 31 December 2021, HDFC holds a 9.89% stake in the private sector bank. In October 2019, HDFC had acquired 15,93,63,149 equity shares or 9.898% of Bandhan Bank on account of the merger of GRUH Finance with Bandhan.