Bandhan Bank exempted from post-IPO lock-in of promoter shares
Bandhan Bank has received an exemption from SEBI on one-year lock-in period for selling of shares by promoters after IPO. This will allow the bank's promoter to bring down its holding from the current 82.28% to 40% to comply with RBI rules. RBI recently barred the bank from opening new branches without its approval for failing to meet shareholding norms.