Abu Dhabi’s IHC and First Abu Dhabi Bank Eye 25%–32% Stake in Bandhan Bank Promoter BFSL via Jefferies

A $500M–$600M Exit Window for GIC and the IFC

The primary objective of the transaction is to provide a structured liquidity exit for early-stage institutional backers who have remained invested in the microfinance pioneer for over a decade:

• Key Exiting Investors: Singapore’s sovereign wealth fund GIC and the International Finance Corporation (IFC) collectively held 30.3% of BFSL as of March 31.
• Estimated Stake Valuation: Market sources value the combined 30.3% holding of GIC and IFC at $500 million to $600 million (~₹4,200 crore to ₹5,000 crore).
• Additional Stakeholders: Other investors in BFSL include the Small Industries Development Bank of India (SIDBI) with 8.1%, the Financial Inclusion Trust and North East Financial Inclusion Trust (40.7%), and the Bandhan Employees’ Welfare Trust (14.6%). A wider exit could expand the deal size significantly.

Beyond IHC and FAB, prospective suitors canvassed across the Gulf and global private equity include the Qatar Investment Authority (QIA), Carlyle, and EQT.