Bandhan Bank informs about disclosure

Bandhan Bank Ltd. | Bank - Private | BFSI | BSE: 541153 | NSE: BANDHANBNK

06 Feb 2024 Evaluate

Pursuant to the provisions of Regulation 30 of the SEBI LODR, Bandhan Bank has informed that Reserve Bank of India vide its letter dated February 05, 2024, accorded its approval to HDFC Bank Limited (‘the applicant’) to acquire ‘aggregate holding’ of up to 9.50% of the paid-up share capital or voting rights in Bandhan Bank Limited (‘the Bank’). The approval has been accorded pursuant to the application made by the applicant to RBI. The aforesaid approval granted by RBI is subject to the conditions mentioned therein including compliance with the relevant provisions of the Banking Regulation Act, 1949, Master Direction and Guidelines on Acquisition and Holding of Shares or Voting Rights in Banking Companies dated January 16, 2023 (as amended from time to time), provisions of the Foreign Exchange Management Act, 1999, regulations issued by Securities and Exchange Board of India, and any other statutes, regulations, and guidelines, as applicable. The RBI has also conveyed that if the applicant fails to acquire major shareholding within one year from the date of this letter, this approval shall stand cancelled. The applicant has also been advised to ensure that their ‘aggregate holding’ in the Bank does not exceed 9.50% of the paid-up share capital or voting rights of the Bank, at all times. If the ‘aggregate holding’ Page 2 of 2 falls below 5%, prior approval of the RBI will be required to increase it to 5% or more of the paid-up share capital or voting rights of the Bank. You are requested to take note of the above. This disclosure is also being uploaded on the website of the Bank at www.bandhanbank.com.

The above information is a part of company’s filings submitted to BSE.