INSUBCONTINENT EXCLUSIVE:
Bandhan Bank and Housing Development Finance Corp (HDFC) are in discussions for a possible merger between Bandhan and GRUH Finance, two
likely to involve a share-swap deal, sources said
The transaction would help Bandhan reduce its promoter holding in the lender from 82.28 per cent
The swap ratio would determine the extent of the stake dilution, which is mandated by banking regulations.
HDFC, for its part, described the
or text messages.
Kolkata-based Bandhan Bank has been looking to take the MA route to bring down the stake of Bandhan Financial Holdings to
40 per cent as per the Reserve Bank of India (RBI) mandate
The deadline was August
22
not entirely solve the stake-related issue in one go.
