Bandhan Bank To Buy Gruh Finance In Share-Swap Deal

Bandhan Bank will buy mortgage provider Gruh Finance in a share-swap deal to build up its housing loan portfolio, the companies said on Monday. The deal will also help Bandhan Bank's main shareholder, Bandhan Financial Holdings, reduce its stake in the lender to just above 60 per cent, local media reported earlier in the day. Shares in both companies fell sharply on a media report of the deal on Monday before it was officially announ...