Bandhan Bank's main shareholder seeks $1.4 billion in stock sale

Those shares are offered at a floor price of $4.16 each, according to the terms

1 min read Last Updated : Aug 02 2020 | 11:02 PM IST

Bandhan Bank’s main shareholder Bandhan Financial Holdings is selling 337.4 million shares in the Indian lender in a block trade seeking to raise $1.4 billion, according to deal teams obtained by Bloomberg News.

Those shares are offered at a floor price of $4.16 each, according to the terms.

Books will close by 11:30 pm in Hong Kong on August 2. and trading will start on August 3. Credit Suisse Securities (India), J.P. Morgan India, Goldman Sachs (India) Securities and JM Financial Institutional Securities are joint bookrunners for the deal.