For Quick Alerts
For Daily Alerts

Bandhan Bank Shares Surge 20% On Reports Of Being Added To MSCI Index


Bandhan Bank Shares Surge 20% On Reports Of Being Added To MSCI Index

Shares of Bandhan Bank jumped close to 20 percent on Friday to Rs 608.30 after brokerage Motilal Oswal Financial Services tweeted the news of the private lender's addition to MSCI Index.

Following its merger with Gruh Finance, the combined free-float market capitalisation of Bandhan Bank will rise above $2.5 billion, to qualify for the large-cap index.

"Bandhan Bank is getting added MSCI index effective 16th October on effect of Gruh Finance getting merged with Bandhan Bank," Motilal Oswal's tweet read.

Shares of Gruh Finance Ltd surged as much as 17 percent on Friday morning to Rs 327.40.

In a corporate announcement to the exchanges last week, Bandhan Bank had informed of 17 October being set as the record date to determine the shareholders of Gruh Finance that will be eligible to receive shares of Bandhan.

"In accordance with Regulation 42 of the Listing Regulations, Thursday, October 17, 2019 has been fixed as the 'Record Date', following the effectiveness of the Scheme, for the purpose of determining the shareholders of GRUH who shall be entitled to receive the equity shares of the Bank, and also for determining portfolio of the Non-Convertible Debenture holders of GRUH which shall be shifted to the new International Securities Identification Numbers (ISINs) created by the Bank, pursuant to the effectiveness of the Scheme," it said.

Read more about: bandhan bank msci
Company Search
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more