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Caladium Investments Ups Stake In Bandhan Bank; Stock Trades 1.8% Higher
Bandhan Bank share price in early trade on August 5, 2020 jumped higher by 1.8% on the NSE to Rs. 312.50 This is after Caladium Investments, an affiliate of GIC of Singapore has upped its stake in the private lender from 4.49 per cent earlier to 4.49 per cent. The share acquisition was effected via open market on August 3, said the bank in a filing to the exchanges.
Caladium Investment, an affiliate of Singapore's sovereign wealth fund, now owns 12.54 crore equity shares in the Kolkata-based bank.
Earlier, there was a stake sale by the bank's main shareholder via a block deal wherein shares worth Rs. 10500 crore were sold. This deal was to comply with the RBI's ruling on shareholding norms for listed entities. And the RBI guidelines require banks to pare their promoter holding to 40 per cent within 3 years of commencing business.
There is seen some opportune in quality private sectors even now given the high volatility and anticipation of increase in NPA in the wake of Covid 19 crisis.
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