India's Bandhan Bank gains after report Gulf investors eye stake in large shareholder
BUZZ-India's Bandhan Bank gains after report Gulf investors eye stake in large shareholder ** Shares of Bandhan Bank BANH.NS rise 7.8% to 169.62 rupees, on track for three-day winning streak and its biggest daily rise since April
** Abu Dhabi's International Holding Company IHC.AD among a group of Gulf investors in early-stage discussions to acquire a stake in Bandhan Financial Services, Economic Times reports citing sources
** BFSL has a 37.5% stake in BANH - LSEG data
** BFSL, led by Bandhan founder Chandra Shekhar Ghosh, has been working with Jefferies to find strategic investors for 25%-32% - ET
** Deal would provide an exit for investors including Singapore's GIC and the International Finance Corporation, which have been exploring a partial or full sale - report
** First Abu Dhabi Bank FAB.AD, Qatar Investment Authority, Carlyle CG.O and EQT have also been approached - ET
** Bandhan Bank, BFSL, IHC, First Abu Dhabi Bank, QIA, Carlyle and EQT did not immediately respond to Reuters' requests for comment
** YTD, stock up 16%
(Reporting by Puyaan Singh in Bengaluru)
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