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HDFC gets RBI's in-principle approval for acquisition of 9.9% stake in Bandhan Bank

Capital Market 

Housing Development Corporation announced that the vide its letter dated 14 March 2019 has granted its in-principle approval to the Corporation to acquire shareholding of 9.9% or less of the paid up voting capital of Bandhan upon the effective date of the scheme.

The scheme envisages the amalgamation of GRUH (a subsidairy of the Corporation) into and with Bandhan and dissolution of GRUH without winding up.

The scheme remains subject to various regulatory and statutory approvals.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, March 16 2019. 09:52 IST