ADVERTISEMENT

Bandhan Bank IPO subscribed 42% on opening day

Bandhan Bank IPO subscribed 42% on opening day

Published
Hot News
1 min read
Kolkata: Bandhan Bank MD and CEO Chandra Shekhar Ghosh, CFO Sunil Samdani and Sunil Amin of Kotak Mahindra Capital during a press conference prior to launch of  banks
Kolkata, March 15 (IANS) Private lender Bandhan Bank's Rs 4,473 crore initial public offer was subscribed 42 per cent on the opening day of the bidding on Thursday.
Over 2.38 crore shares reserved for qualified institutional buyers (QIBs) were oversubscribed 1.26 times while the portion offered for non-institutional investors was subscribed one per cent and retail investors 12 per cent.
Of the total size, the lender allocated over 3.57 crore equity shares at a price of Rs 375 a piece aggregating to Rs 1,341.91 crore to 65 anchor investors.
According to data available with the NSE till 5 p.m., the offer of over 8.34 crore shares has received bids for over 3.5 crore shares.
The lender had set a price band of Rs 370 to Rs 375 per equity share of face value Rs 10 each and of the total issue size of over 11.92 crore shares, it offered fresh equity shares to the tune of 9.76 crores and an offer for sale of up to 1.40 crore shares by the International Finance Corporation (IFC) and 75.65 lakh shares by IFC FIG Investment Company.
The offer will close on March 19.
--IANS
bdc/vd

(This story was auto-published from a syndicated feed. No part of the story has been edited by The Quint.)

(This story was auto-published from a syndicated feed. No part of the story has been edited by The Quint.)

(The Quint is available on Telegram. For handpicked stories every day, subscribe to us on Telegram)

We'll get through this! Meanwhile, here's all you need to know about the Coronavirus outbreak to keep yourself safe, informed, and updated.

Liked this story? We'll send you more. Subscribe to The Quint's newsletter and get selected stories delivered to your inbox every day. Click to get started.

The Quint is available on Telegram & WhatsApp too, click to join.

ADVERTISEMENT
ADVERTISEMENT
Stay Updated

Subscribe To Our Daily Newsletter And Get News Delivered Straight To Your Inbox.

Join over 120,000 subscribers!
ADVERTISEMENT