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GRUH BANDHAN MERGER
Bandhan Bank’s weight in MSCI India index may rise by 32 bpsBandhan Bank’s FII limit has been increased to 49 per cent in October.- HDFC acquires 9.89% stake in Bandhan BankAs many as 15.93 crore shares of the bank was transferred to HDFC, Bandhan Bank said.
- Bandhan Bank ends 15% up ahead of MSCI entryShares of Bandhan Bank ended 15 per cent higher at Rs 583.40.
- Bandhan Bank overcomes all regulatory hurdles for merger with Gruh FinanceBandhan Bank has received the certified copy of the NCLT order on Monday, Managing Director Chandra Shekhar Ghosh told ET.
- Gruh Finance jumps 6% on likely stake sale by HDFCHDFC was expected to raise Rs 1,678 crore by selling 9.2 per cent in Gruh Finance.
- HDFC to sell 9.2% in Gruh Finance to raise Rs 1,678 croreAs on June 30, HDFC held over 47 per cent stake in Gruh.
- HDFC sells further 4.22% stake in Gruh for Rs 899 croreThe average price was Rs 290.14 equity share, HDFC said in a regulatory filing.
- RBI approves proposal of HDFC for holding 9.9 pc stake in Bandhan BankGruh Finance, the affordable housing finance arm of HDFC Ltd, was taken over by Bandhan Bank in a share-swap deal in January.
- Bandhan's 14.9% stake to HDFC will test RBI 2016 guidelinesGruh Finance, the affordable housing finance arm of HDFC, was taken over in January by Kolkata based Bandhan Bank in a share swap deal.
- Bandhan Bank reports 10% YoY jump in Q3 net at Rs 331 croreThe bank had posted a net profit of Rs 300.04 crore in the corresponding quarter last year.
- Bandhan Bank, Gruh Finance extend their slideAnalysts believe that Bandhan Bank has made an expensive deal in the acquisition of Gruh Finance.
- Cost of funds for Gruh may surge as it loses HDFC credit-quality benchmarkGruh’s profitability was higher than its peers, many of which are larger in size.
- Gruh Finance deal expensive for Bandhan Bank: BrokeragesThe acquisition does not fully resolve Bandhan Bank's promoter stake dilution concern.
- It is a win-win for Gruh, Bandhan and HDFC: Keki Mistry“Bandhan will benefit from Gruh’s time-tested systems in doing housing loans and presence in western India.”
- Bandhan, Gruh shares drop after merger; here's whyMacquarie termed acquisition of Gruh Finance by Bandhan as "a wrong decision".
- Bandhan promoter still needs to dilute 20% more of stakeThe merger with Gruh Finance will bring down promoters' holding in Bandhan only to 61 per cent from 82.28 per cent.
- Swap ratio may be unfavourable for Gruh Finance shareholdersThe merged entity’s earnings per share (EPS) will reduce to Rs 7.4 from Rs 8.1.
- Gruh-Bandhan merger will create a very large rural & semi-urban lending pool: Keki Mistry, HDFCBandhan-Gruh’s merger to create a very large rural and semi-urban lending pool, says HDFC vice-chairman.
- Gruh deal just first step, Bandhan needs to do more to reduce promoter's stakeThe merger with Gruh Finance will bring down promoters' holding in Bandhan only to 61% from 82.28%.
- Bandhan Bank to buy Gruh Finance in share swap dealGruh Finance has total assets of Rs 15970.97 crore with turnover of Rs 1687.19 crore.
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