HDFC has acquired 9.89 per cent stake in Bandhan Bank as part of scheme of merger. As many as 15.93 crore share of the bank was transferred to HDFC. Earlier this month, the bank merged with Gruh Finance, which brought down the shareholding of the promoter from 82.26 per cent to 60.96 per cent.
In accordance with the scheme of merger, 9.89 per cent stake of the total share capital of Bandhan Bank has been alloted to HDFC.
Bandhan Bank is an Indian banking and financial services company headquartered in Kolkata, West Bengal. Bandhan, which started as a micro-finance company in 2001, received banking licence by Reserve Bank of India in 2014.
