Home / Companies / News / BlackRock, three others buy $1.4 billion of Bandhan Bank shares

BlackRock, three others buy $1.4 billion of Bandhan Bank shares

Bandhan Bank's shares plunged 10.5 per cent on Monday after the transaction, its biggest loss since March 30. They were up as much as 2 per cent on Tuesday

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Some of Bandhan Bank’s profitability metrics, including return on assets and return on equity, are the highest among Indian banks.

Julia Fioretti, Suvashree Ghosh | Bloomberg

3 min read Last Updated : Aug 04 2020 | 11:47 AM IST

BlackRock Inc. and Singapore’s GIC Pte. bought shares in Bandhan Bank Ltd. as the main shareholder of India’s most profitable bank sold Rs 106 billion ($1.4 billion) of its stake to meet the regulator’s ownership rules.

Temasek Holdings Pte and SBI Mutual Fund also bought shares, the bank’s founder and Chief Executive Officer Chandra Shekhar Ghosh said in an interview on Monday. GIC got the Reserve Bank of India’s approval to raise its stake in the lender to 10 per cent from 4.9 per cent, he said.

Bandhan Financial Holdings Ltd. sold 337.4 million shares in the Indian lender at

Topics : BlackRock Bandhan Bank GIC

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