Shares of Bandhan Bank gained as much as 3 per cent to Rs 482 on regulatory relief to trim promoter stake.
SEBI has exempted Bandhan Bank from restrictions placed on share sale by its promoters. SEBI stipulates a one-year lock-in on the sale of equity shares by promoters in a newly-listed company.
Earlier, the RBI had pulled up Bandhan Bank for its failure to bring down the promoter holding to 40 per cent as mandated in the licensing norms for universal banks.
Up to Friday's close, the stock had fallen over 17 per cent after the RBI withdrew the lender's permission on September 28 to open new branches.