Deepak Parekh, Chairman of HDFC, termed the merger between Bandhan Bank and Gruh Finance as a semi-arranged match. But this one too, as with any marriage, may take time to establish compatibility.
Tuesday’s stock market reaction echoes similar sentiments. While Gruh Finance stock took a big beating – down 17 per cent to adjust to the merger swap ratio — Bandhan’s stock fell over 5 per cent. While the merger with Gruh Finance expands Bandhan’s footprint beyond its core eastern and north-eastern markets, there are still concerns over the value accretion ...
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