Private sector lender Bandhan Bank Friday said it has got exemption from the market regulator, Sebi, on one year lock-in period for selling shares by promoters.
Last month, the Reserve Bank of India (RBI) restrained the lender from opening new branches and also freezed remuneration of Ghosh for not meeting the licensing conditions.
The RBI's restriction came as the bank was not able to bring down the shareholding of its non-operative financial holding company (NOFHC), Bandhan Financial Holdings (BFHL), to 40 per cent, from the current level of 82 per cent.
In a filing to exchanges Friday, it said, "the Bank has received an exemption from the Sebi with respect to lock-in of one year on the equity shares held by the promoter and eligibility condition of one year from listing."
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