Societe Generale Buys Stake In Bandhan Bank For Rs 219 Crore

French investment giant Societe Generale acquired 0.75% stake in private lender Bandhan Bank Ltd. for Rs 219 crore through open market transactions on Tuesday. The foreign investor purchased 1.21 crore shares for Rs 180.8 apiece, according to block deal data on the NSE.

British hedge fund Marshall Wace offloaded a similar number of shares for the same price through two of its funds—Marshall Wace Investment Strategies-Eureka Fund and Global Financials Market Neutral Fund.

Overseas investors held 31.19% stake in the Kolkata-based Bandhan Bank, as of March.

Shares of the lender closed 1.13% higher at Rs 182.85 apiece on Tuesday, as compared with a 0.12% advance in the BSE Sensex.