HDFC pares 3% stake in Bandhan Financial institution for Rs 1,521 crore

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Housing finance main HDFC Ltd on Friday divested a little bit over 3 per cent stake in Bandhan Bank, garnering Rs 1,522 crore, by means of an open market transaction.

The transaction comes days after HDFC introduced a mega merger with its banking arm HDFC Bank.

In accordance with bulk deal information out there with the BSE, Housing Development Finance Corporation (HDFC) offered a complete of 4,96,32,349 shares, amounting to three.08 per cent stake, of Bandhan Financial institution.

The shares have been offloaded at a median value of Rs 306.61 apiece, valuing the transaction at Rs 1,521.77 crore.

HDFC, a public shareholder in Bandhan Financial institution, held 9.89 per cent stake within the personal lender on the finish of the December quarter, shareholding information with the change confirmed.

In the meantime, Societe Generale picked up over 1.9 crore shares of the financial institution for Rs 306.55 per piece at an estimated Rs 585 crore.

The scrip of Bandhan Financial institution closed 2.60 per cent greater at Rs 323.75 on the BSE.

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Lexie Ayers
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