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Bandhan Bank Rs. 2500 Crore IPO Issue: Know Details


On January 1, Bandhan Bank filed draft herring prospectus with the SEBI for the approval of its 2500 crore IPO issue. The institution is likely to come up with the offering in March or April this year.

Bandhan Bank Rs. 2500 Crore IPO Issue: Know Details

Here are few things that may be of interest for the potential investor in the issue:

Issue details: The lender aims to raise over Rs. 2500 crore through an offer of 11,92,80,494 equity shares of face value of Rs 10 each. The issue comprises an OFS of 1,40,50,780 by IFC and 75,65,804 shares by IFC FIG Investment Company. And the remaining shall be a fresh issue by the lender of as many as 9,76,63,910 scrips.

The proposed issue shall be the largest in the banking sector until now. "We will have to do it within three years of starting the banking operations to comply with the RBI guidelines. I will not defer the launch of IPO, but the timing of its launch will depend on the market conditions," Chandra Shekhar Ghosh, managing director and chief executive officer, Bandhan Bank said in September last year.

The shares of the microfinance entity which transformed into the universal bank will be listed on both the NSE and BSE.

The book running lead managers of the issue are Axis Capital Ltd, Goldman Sachs (India) Securities Pvt Ltd, JM FinancialInstitutional Securities, J P Morgan India Private Ltd and Kotak Mahindra Capital Company Ltd.


Read more about: ipo ofs bandhan bank
Story first published: Tuesday, January 2, 2018, 15:18 [IST]
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