Bandhan Bank update on scheme of amalgamation

Bandhan Bank announced that GRUH Finance and Bandhan Bank have filed on 17 October 2019 the certified copies of the orders passed by respective NCLTs with the jurisdictional Registrar of Companies in the prescribed e-form INC-28. Accordingly, the Scheme has become effective, in terms of the provisions of the said Scheme.

In accordance with the Scheme, the Bank will issue and allot to those shareholders whose names would appear as a member in the records of the depositories/register of members of GRUH, as the case may be, on the Record Date, 568 (five hundred and sixty-eight) fully paid-up equity shares of Rs. 10 each of the Bank, for every 1,000 ( one thousand) fully paid-up equity shares of Rs. 2 each, held by such member in GRUH.

The equity shares proposed to be issued by the Bank in accordance with the Scheme will be submitted for listing with BSE and the National Stock Exchange of India and they shall rank pari-passu in all respects with the existing equity shares of the Bank.

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