Home Buisness news Bandhan Bank Tanks Nearly 12% Post Block Deal

Bandhan Bank Tanks Nearly 12% Post Block Deal

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Bandhan Bank Share: Bandhan Financial Holdings held 60.95 per cent stake earlier than the block deal.

Bandhan Bank shares tanked almost 12 per cent on the BSE to Rs 304 publish a block deal on the BSE, which noticed 345.6 million shares altering fingers. The particulars of the patrons and sellers within the block deal should not recognized. At 11:40 am, the shares of Bandhan Bank have been buying and selling at Rs 308.75, down 10.57 per cent, on the BSE. The shares have touched a excessive of Rs 321 and a low of Rs 304 to date.

Bandhan Financial Holdings, the primary shareholder of Bandhan Bank, was anticipated to promote 337.four million shares or 20.95 per cent stake price $1.four billion (Rs 10,500 crore) within the financial institution by a block deal to fulfill RBI’s shareholding norms. Bandhan Financial Holdings held 60.95 per cent stake within the financial institution previous to the block deal.

The BSE Sensex was buying and selling at 37,222.25, decrease by 376.49 factors or 0.9 per cent and the NSE Nifty was at 10,980.25, down 93 factors or 0.eight per cent on the time.

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