HDFC sells over 3% stake in Bandhan Bank through block deal for ₹1,522 crore

Block deal data on BSE showed that HDFC A total of 49,632,349 equity shares or 3.08% were sold in Bandhan Bank 306.61 each. That said, the disinvestment overall is about 1,522 crores.

In its regulatory filing on BSE today, HDFC said, “We would now like to inform you that out of the above shares, the Corporation has sold 7,96,32,349 equity shares, representing 4.94% of the paid-up share capital of Bandhan. , which includes the sale of 4,96,32,349 equity shares representing 3.08% of the paid-up share capital of the Bond made on April 8, 2022.”

In October 2019, HDFC acquired 15,93,63,149 equity shares or 9.898% of the paid-up share capital in Bandhan Bank. HDFC received these shares from Bandhan in accordance with the share exchange ratio mentioned in the scheme of merger and merger of GRUH Finance with Bandhan.

However, post the block deal, HDFC now holds 4.95% of the paid-up share capital of Bandhan.

On the other hand, in today’s block deal on BSE, French multinational investment bank, Societe Generale bought 19,081,469 equity shares. 306.55 each – approx in view 585 crores.

Bandhan Bank shares closed on BSE 323.75 each, up 2.60%, while HDFC settled on 2458.10 marginally down from each previous close.