Shares of Bandhan Bank, IDBI Bank and Fino Payments Bank fell sharply on Monday following reports related to promoter stake sale plans, the fate of a strategic divestment process and an alleged probe related to certain transactions.
Shares of Bandhan Bank declined 7.46 per cent to close at ₹162.50 on the Bombay Stock Exchange, compared with the previous close of ₹175.60.
The fall followed reports that its promoter, Bandhan Financial Holdings, is exploring options, including a stake sale or an initial public offering, to facilitate the exit of long-term investors such as GIC.
Bandhan Financial Holdings held a 39.07 per cent stake in Bandhan Bank as of the quarter ended December 2025.
“The bank clarifies that it is not aware of any such development, and the bank has not received any communication in this regard,” Bandhan Bank said in a filing to the stock exchange on Monday.
Shares of IDBI Bank dropped 16.49 per cent to close at ₹77, compared with the previous close of ₹92.20.
The decline followed reports that the strategic sale of the lender may have been scrapped as financial bids from potential buyers were reportedly below the reserve price.
The government of India and Life Insurance Corporation of India together hold a 94.71 per cent stake in IDBI Bank, of which 60.72 per cent was proposed to be divested.
“Bank has not received any communication from the government with respect to scrapping of the process of strategic disinvestment of the bank,” IDBI Bank said in a regulatory filing on Monday.
Shares of Fino Payments Bank declined 17.15 per cent to close at ₹140.05 against the previous close of ₹169.05 following reports that online gaming-related transactions involving the bank could come under the scanner of the Enforcement Directorate.
The development comes after the bank recently disclosed that its MD and CEO Rishi Gupta was arrested on February 27 under provisions of the Central Goods and
Services Tax Act and the State Goods and Services Tax Act.
The bank, however, had clarified earlier that the investigation relates to alleged GST evasion by certain programme managers associated with the bank.
On Monday, the bank described the reports of an ED probe as “non-factual and speculative”, adding that it is not under investigation by any agency other than the Directorate-General of GST Intelligence, Hyderabad.