Bandhan Bank updates on bids for Group Loan and SBAL written-off portfolio

Pursuant to the approval of the Board of Directors of the Bank to transfer Group Loan and Small Business and Agriculture Loan (SBAL) written-off portfolio to Asset Reconstruction Company ('ARC'), the Bank has received binding bid from an ARC, amounting to Rs. 801.00 Crore, on Security Receipt consideration basis, for the written-off portfolio with outstanding of Rs. 8,897.00 Crore. The Bank shall go for bidding as per Swiss challenge method and decision of sale shall be taken as per extant guidelines governing Swiss challenge method and the relevant Policy of the Bank.

Shares of Bandhan Bank Limited was last trading in BSE at Rs. 243.05 as compared to the previous close of Rs. 243.40. The total number of shares traded during the day was 747453 in over 8787 trades.

The stock hit an intraday high of Rs. 249.90 and intraday low of 240.25. The net turnover during the day was Rs. 183696428.00.

Source : Equity Bulls

Keywords

BandhanBank INE545U01014 GroupLoan SBAL Bid SwissChallenge