BlackRock, three others buy $1.4 billion of Bandhan Bank shares

BlackRock Inc. The GIC Pte Singapore. Bought shares in Bandhan Bank Ltd. NSE -10.52% as the main shareholder of India’s most profitable bank sold 106 billion rupees ($ 1.4 billion) of its stake to meet the regulatory authority ownership rules.

The bank’s founder and CEO, Chandra Shekhar Ghosh, said in an interview that Temasek Holdings PTE and SBI Investment Fund also bought shares. He said that the Gulf Investment Corporation obtained the approval of the Reserve Bank of India to raise its stake in the bank to 10% from 4.9%.

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