Bandhan Bank, HDFC-led Gruh Finance set to merge

The merger would result in Bandhan founder Chandra Shekhar Ghosh bringing down his promoter holding to just above 60%. HDFC, which owns 58% in Gruh, may end up with over 10% stake in the combined entity, which it plans to cut further through stock exchange off-loading before the merger gets regulatory approvals, people directly aware of the matter said.

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