Bandhan Bank to buy HDFC's Gruh Finance in ₹81,000 cr deal

Bandhan Bank on Monday announced it will acquire Gruh Finance, majority owned by HDFC, in an all-stock deal worth over ₹81,000 crore. The deal will help Bandhan Bank's promoter to reduce its stake in the lender to 60.2%. The RBI has restricted Bandhan Bank from opening new branches without its approval for not bringing down promoter shareholding to 40%.