Shares of Bandhan Bank Limited saw a block deal on Friday with about 4.97 crore shares or 3 percent stake. However, the details of buyers and sellers of the shares were not available. The stock opened down nearly 1 per cent after the big block deal, but soon saw a recovery. After this, it was trading 1 percent higher at Rs 318 per share on BSE. Bloomberg has published a report about this.
CNBC-Awaaz had reported that HDFC Ltd is likely to sell around 50 million shares through a bulk deal. HDFC Ltd held 9.89 per cent stake in the bank as of the December quarter.
According to a report in CNBC Awaaz, due to the proposed merger, HDFC had to reduce its stake in Bandhan Bank to less than 5%. The report said that after the sale of this stake, HDFC’s stake in Bandhan Bank will come down to below 5%.
On Monday, India’s largest mortgage lender HDFC announced that its board has approved the merger of its wholly owned subsidiaries HDFC Investments Limited and HDFC Holdings Limited with HDFC Bank. Permission has been granted.
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On April 5, Bandhan Bank had said that loan growth increased year-on-year to 16 per cent in the January-March period. This is a huge improvement compared to the 9.6 per cent growth for Q3FY22. The Bandhan Group-led consortium will also acquire IDFC AMC for Rs 4,500 crore.
Today i.e. on April 8, 2022 at 10.33 am, the share of Bandhan Bank was trading at the level of 328.20, up 3.97 percent or 12.55 points on the NSE. Its 52-week high is Rs 364.80 and 52-week low is Rs 229.5. Today in intraday, the share of Bandhan Bank has so far touched a high of 329.80 and a low of 307.80.