According to RBI's bank licence norms, a private sector bank's promoter needs to pare holding to 40 per cent within three years, to 20 per cent within 10 years, and to 15 per cent within 15 years.
Bandhan Bank currently has 4,288 banking outlets, including branches.
In the past four months, Bandhan Bank has underperformed the market by falling 32 per cent against 3 per cent rise in the S&P BSE Sensex
till Tuesday. The stock hit 52-week low of Rs 402 yesterday
At 9:47 AM, the stock was trading 1.52 per cent higher at Rs 410 as compared to 0.7 per cent decline in the benchmark S&P BSE Sensex.
A total of 26.4 lakh shares have changed hands on the NSE and BSE combined so far.