Afternoon D & C Dedicated To Mumbai
Home > Business > Bandhan Bank to launch up to Rs 4,473 crore IPO on March 15

Bandhan Bank to launch up to Rs 4,473 crore IPO on March 15

Friday, March 09, 2018

Kolkata-based Bandhan Bank yesterday said it will launch an initial public offering (IPO) of up to Rs 4,473 cr on March 15. The private sector lender will sell over 119.28 million equity shares valued between Rs 4,430 crore and Rs 4,473 crore at a price band of Rs 370-375 per share.

The IPO, which will close on March 19, will comprise a fresh issue of 97,663,910 shares, an offer for sale for up to 14,050,780 shares by International Finance Corp (IFC) and up to 7,565,804 shares by the IFC FIG Investment Co.

The bank's holding after the IPO will be diluted to around 82%, from around 89% at present. "The entire proceeds of the offer, which will close on March 19, would be utilised for capital requirements," the banks' founder, MD and CEO Chandra Shekhar Ghosh told reporters.

He added that as per the RBI licensing commission, "we must be listed within three years". The bank, which had transferred its entire microfinance business to Bandhan Financial Services in 2009, received RBI approval to start banking operations in April 2014 and started its operations in August 2015.

As of December 31, 2017, Bandhan Bank's deposits stood at Rs 25,293 cr, and advances at Rs 24,463 cr. On the microfinance side, the bank has a networth of 2,600 doorstep service centres and 9.6 mn micro-loan customers.

"We continue to strengthen our liability franchise and go on reliability side and focus on low-cost deposits. We want to enhance our retail banking's efficiency and process to deliver more products in our branch network," he added.

Kotak Mahindra Capital, Axis Capital, Goldman Sachs, JM Financial and JP Morgan are the merchant's bankers managing the IPO.


No Comments Posted
City news
Defense counsel Farhana Shah contends that Farooq
Sena MLA raises issue in Assembly, demands immedi
Activists of the Maharashtra Navnirman Sena (MNS)
My sex organ becomes hard very often nowadays and
Dr. Rajan B. Bhonsle, M.D. (Bom)
Consulting Sex Therapist & Counsellor
Dr. (Mrs.) Minnu R. Bhonsle, Ph.D.
Consulting Psychotherapist & Counsellor
Select Sun sign:
Aries (Mar 21 - Apr 20)
Aries (Mar 21 - Apr 20)Catching up with your appointments and also meeting deadlines will keep you busy. Some paperwork may also need your attention. A day you will remember. Excitement, adventure and new contacts fill the day with activity you can enjoy. The evening is brilliant socially.
- Advertising -
Who says you have to hit the gym regularly to sta
A pretty plate of food is definitely more attract
You either vouch for a low-fat diet or fight to k
Read More