Business Standard

BNP Paribas Arbitrage buys Bandhan Bank shares for Rs 187 cr

BNP Paribas Arbitrage on Friday acquired 88.85 lakh shares of private lender Bandhan Bank for Rs 187 crore through an open market transaction

In the case of Vedanta, the promoter entities have pledged their entire stake to raise funds

The shares were purchased at an average price of Rs 211 apiece, taking the aggregate transaction size to Rs 187.49 crore.

Press Trust of India New Delhi

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BNP Paribas Arbitrage on Friday acquired 88.85 lakh shares of private lender Bandhan Bank for Rs 187 crore through an open market transaction.
According to the bulk deal data available with the National Stock Exchange (NSE), BNP Paribas Arbitrage bought 88,85,979 shares, amounting to 0.5 per cent stake in the private lender.
The shares were purchased at an average price of Rs 211 apiece, taking the aggregate transaction size to Rs 187.49 crore.
Details of the sellers could not be ascertained.
Shares of Bandhan Bank jumped 3.05 per cent to close at Rs 218.10 per piece on the NSE.
Last week, Bandhan Bank reported an 18.7 per cent fall in its net profit at Rs 721 crore in the June quarter due to a decline in net interest income.
The Kolkata-based private sector lender had posted a net profit of Rs 887 crore in the year-ago period.
Total income during the quarter under review increased to Rs 4,908 crore from Rs 4,385 crore in FY2023, while the interest earned by the bank grew to Rs 4,523 crore over Rs 4,055 crore in the June quarter a year ago.
Its net interest income declined to Rs 2,491 crore in Q1 FY24 as compared to Rs 2,514 crore in the same quarter a year ago.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Jul 21 2023 | 9:18 PM IST

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