Bandhan Bank set to acquire HDFC-led Gruh Finance: Reports
Bandhan Bank will reportedly acquire mortgage lender Gruh Finance via a share swap, in a bid to cut the bank's promoter holding. Shareholders of Gruh Finance, in which HDFC has 57.83% stake, will receive three Bandhan Bank shares for every five shares held in the home financier, reports said. HDFC will also cut its stake further by 5.5%, reports added.