 "Chandra Shekhar Ghosh")
Bandhan, which got banking licence along with IDFC, has not taken any call on giving stake to private equity players so far. Its chairman and managing director, Chandra Shekhar Ghosh, tells Sanjeeb Mukherjee and Indivjal Dhasmana that his company will discuss the matter next month or in January. The issue of International Finance Corporation (IFC)'s interest in increasing its stake in Bandhan will also be discussed, he says on the sidelines of the India Economic Summit. Edited excerpts:
There were reports that you are looking at private equity players to infuse equity in Bandhan. IFC has also shown interest in increasing its holding in Bandhan. Have you taken a call?
We have not gone into the process of increasing equity infusion. IFC has also shown interest that it would like to increase its stake. I understand other investors are also talking to us. We have not yet taken any call. We could discuss the matter about IFC increasing its stake and other private equity players interested in stake in Bandhan in December this year or January next year.
Which are the private equity players that have shown interest?
I cannot disclose that. Lots of people are coming. Good investors have come to us.
How much more capital do you need once you start the business?
Normally, we don't need any more capital. We have capital of Rs 500 crore. We are not designing to have more capital at the moment. It will take some time.
How many more people will you recruit?
We have already recruited 200, in addition to existing 13,400 employees.
Which area of the country would you like to focus on as the bank?
From the beginning, we would like to go all over the country. We are planning to have 60 per cent branches in rural areas and semi-urban areas and 40 per cent in urban areas and metros.
As an NBFC, you were not into deposit-taking. After banking operations, you will take deposits as well. How do you see this transition?
This is a little bit of a challenge for us. Any financial part needs some committed staff, then it is possible to have a smooth transition. We have a strength of 13,000 very committed staff.
