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Bandhan Bank to soon comply with 40% promoter stake rule: C S Ghosh

In January this year, Bandhan Bank announced its merger with Gruh Finance, which will reduce the promoters' stake to about 61 per cent from close to 82.3 per cent


Chandra Shekhar Gosh, MD & CEO, Bandhan Bank Ltd (Photo Credit: Kamlesh Pednekar)

Namrata AcharyaAnup Roy Kolkata
Bandhan Bank will soon finalise the long-pending plan to reduce its promoters’ stake to 40 per cent as required by the Reserve Bank of India (RBI). C S Ghosh, managing director and chief executive, said  an Offer for Sale was among the measures being considered.

In January, it announced the merger of Gruh Finance with itself, which reduced the promoters’ stake to about 61 per cent, from the earlier 82.3 per cent. The RBI says promoter stake in the new private banks is not to exceed 40 per cent.

“We have a plan...We will shortly close it,” said

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First Published: Mar 28 2019 | 6:29 PM IST

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