Bandhan Bank shares fall 12% on promoter exit talk (2026)

What triggered the latest move in Bandhan Bank

Bandhan Bank shares came under pressure after a report by The Economic Times said Bandhan Financial Services is exploring exit options for long-term investors, including GIC Ventures and the International Finance Corporation. The report led to a sharp, risk-off reaction in the stock, with trading marked by heavy intraday swings. In one instance cited, the stock fell as much as 12.5% to a day’s low of ₹154 on the BSE. The selling was also described as being compounded by broader risk concerns linked to the West Asia crisis, even as the wider market was said to be gaining.

The development matters because it points to potential changes in shareholder structure, and possibly control dynamics, at a time when the lender is also dealing with a mixed earnings picture. A change in large shareholding can influence market perceptions around governance, strategic direction, and future capital decisions. The bank, meanwhile, did not confirm any such development when approached, based on the text provided.

Stock price action: sharp drops, then sharp rebounds

The stock’s movement was not one-directional across the updates provided. Bandhan Bank was reported to have hit lower circuit levels on the exit-news flow in one session. Another data point showed the share price moved down 5.63% from a previous close of ₹211.76, with the last traded price at ₹199.85.

Separately, a timestamped snapshot stated that as on 25 Jun, 2026 at 10:26 AM IST, Bandhan Bank share price was down 3.95% versus the previous close of ₹207.12, trading at ₹203.40. In contrast to those declines, the text also notes the stock extended gains for a fifth straight session to a seven-month high, rising 4% to ₹190.20, with a five-day cumulative gain of 10%.

A further update highlighted a strong single-session rebound: shares rose as much as 6.34% to a day’s high of ₹151.70 on the BSE, and were up 5.82% at ₹150.95 versus a previous close of ₹142.65. The presence of both steep falls and sharp rallies across the excerpts indicates heightened volatility around headlines and results.

What the report said: two exit routes under discussion

According to people aware of the discussions, Bandhan Financial Services’ board evaluated two potential routes for investor exits. One route involved selling the stake held by existing investors to private equity funds. The other involved launching an initial public offering.

The text also links the move to regulatory mandates to reduce promoter stake. While no specific regulator, timeline, or target percentage was cited in the supplied content, the reference suggests that promoter holding levels and compliance requirements are part of the strategic context.

Bank’s response and promoter comments

On the question of whether promoters were exploring the reported options, the supplied text includes a clear line: when the author reached out to the bank, it said it was not aware of any such development by the promoters. The same passage adds that promoter entities had not yet commented on queries sent to them.

This lack of on-record clarity is one reason such reports can drive outsized price reactions, especially in stocks where promoter actions are closely watched. Without confirmed details, the market tends to price in uncertainty, and trading can become headline-driven.

Q3 FY26 performance: profit down sharply year-on-year

Bandhan Bank reported a sharp year-on-year decline in profitability for the December 2025 quarter (Q3 FY26). Net profit fell about 52% YoY to around ₹206 crore, compared with about ₹426 crore in the same period last year. Another figure in the text puts Q3 net profit at ₹205.59 crore versus ₹426.48 crore a year ago, described as a 51.79% decline.

Net interest income (NII) declined 4.5% YoY to ₹2,688 crore from ₹2,814 crore. The text attributes the profit decline to the absence of a one-time income item, specifically ₹538 crore received from the credit guarantee fund in the year-ago period, which did not recur in the period under review.

Sequential improvement: operating profit up QoQ

Despite the weak year-on-year comparison, the text also points to sequential improvement. Operating profit increased 10% quarter-on-quarter to ₹1,445 crore in Q3 FY26 from ₹1,310 crore in Q2 FY26. Another excerpt similarly cited operating profit at about ₹1,450 crore, described as ahead of street expectations and aided by higher other income and a 10 basis point expansion in margins.

There is also a separate reference stating operating profit stood 29% lower at ₹1,445 crore against ₹2,021 crore, indicating that comparisons vary depending on the base quarter used in different reports. What is consistent across the excerpts is that year-on-year profit fell sharply, while quarter-on-quarter operating momentum improved.

Sales trend and fair value estimate update

Alongside profit numbers, one datapoint notes that sales “de-grew” by 1.97%, and that the company witnessed revenue contraction for the first time in the last three years, based on standalone financials. No absolute sales figure was provided in the text.

The fair value estimation for Bandhan Bank was described as slightly adjusted, changing from ₹166.25 to roughly ₹165.21 per share. This indicates only a minor model-driven change, and it sits below several traded-price snapshots mentioned in the same set of updates.

Broker calls and targets: mixed views

The excerpts show a wide range of brokerage stances. JM Financial upgraded the stock to ‘Add’ from ‘Reduce’ and revised its target price to ₹160, noting PAT around ₹210 crore missed estimates due to elevated credit costs of about 3.4%, and citing valuation at 0.7x FY28 price-to-book. Axis Securities upgraded the stock to ‘Buy’ from ‘Hold’ with a similar target price of ₹160.

On the more cautious side, Nuvama maintained a ‘Reduce’ call with a target price of ₹133, cut from ₹155 earlier. MOFSL was cited as having a ‘Buy’ rating with an unchanged target price of ₹175. Separately, “Upside” content referenced a 1-year “BUY” view, but no numeric target was visible in the supplied text.

Key facts at a glance

What investors are likely tracking next

The immediate focus remains on clarity around any stake-sale process or other exit mechanism for long-term investors, and whether it changes the bank’s ownership and control narrative. The only on-record line in the supplied text is that the bank said it was not aware of any such development by the promoters, with no promoter comment yet.

At the same time, quarterly performance signals are mixed: year-on-year profit and NII declined, but operating profit improved sequentially. With brokerage targets ranging from ₹133 to ₹175 in the excerpts and fair value estimates around ₹165, the next leg of price action is likely to remain sensitive to confirmed updates on ownership moves and the bank’s follow-through on earnings stability.