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Bandhan Bank, Gruh Finance complete merger

India's Bandhan Bank Ltd. has competed its merger with GRUH Finance Ltd.

Under the share exchange ratio, Bandhan Bank will issue 568 of its fully paid up shares for every 1,000 shares of GRUH Finance held by its shareholders. The shares to be issued will be listed on the BSE and the National Stock Exchange of India.

Bandhan Bank had agreed to acquire and merge with GRUH Finance in January.

As of Oct. 17, US$1 was equivalent to 71.10 Indian rupees.