The stock of Bandhan Bank shed over 4.5 percent on the bourses during early trade hours on Friday. The decline comes after the Reserve Bank of India approved SBI Mutual Fund to buy close to a 10 percent stake in the lender.
While the stock opened at Rs 185.70, marginally lower compared to its previous close of Rs 186.10, it declined to Rs 177.55 during the trade. However, it recovered some of the losses and was trading at around Rs 180 apiece at noon, over 3 percent lower.
Friday’s decline in the stock was in contrast to its performance on Thursday, when it rose over 2 percent on the bourses.
The bank had informed the exchanges on Wednesday that the banking regulator had approved a proposal by SBI Mutual Fund to acquire an aggregate holding of up to 9.99 percent in Bandhan Bank.
The approval is subject to compliance with the provisions of the Banking Regulation Act, 1949; the Reserve Bank of India (Commercial Banks’ Acquisition and Holding of Shares or Voting Rights) Directions, 2025 dated November 28, 2025, as amended from time to time; the Foreign Exchange Management Act, 1999; and regulations issued by the Securities and Exchange Board of India, among other applicable statutes and guidelines, the lender said.
“The RBI has also conveyed that if the applicant fails to acquire major shareholding within a period of one year from the date of its letter, this approval shall stand cancelled,” it said, adding, “The applicant has also been advised to ensure that their ‘aggregate holding’ in the bank does not exceed 9.99 percent of the paid-up share capital or voting rights of the bank at all times.”
If the aggregate holding of SBI Mutual Fund falls below 5 percent at any point in time, prior approval of the RBI will be required to increase it to 5 percent or more of the paid-up share capital or voting rights of the bank.
