Bandhan Bank's holding company Bandhan Financial Holdings (BFHL) has sold 20.95 per cent stake worth over Rs 10,550 crore as part of complying with regulatory requirements. BFHL has offloaded more than 33.73 crore shares in the secondary market.
BFHL -- the Non-Operative Financial Holding Company (NOFHC) of the lender -- was required to reduce its excess shareholding to 40 per cent of the paid-up voting capital of the bank.
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.
