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27 March 2018
 |
Japan financial markets (The Total Investment & Insurance
Solutions)
Shares
in Indian private sector lender Bandhan Bank Ltd rose as much as 33 percent in
their trading debut on National Stock Exchange on Tuesday after its Rs 4,500
crore initial public offer (IPO). The shares were trading at 461.35 rupees,
higher than the IPO issue price of 375 rupees.
The
IPO of Bandhan Bank was oversubscribed 14.56 times, eliciting good response
from QIP and HNI investors. The oversubscription on account of QIP was 38.67
times and that of HNI investors was 13.89 times. Retail oversubscription was
1.05 times which is going to rise further and applications received on this
count was approximately 10 lakh.
The
price band had been fixed between Rs 370 and Rs 375 per share, with a face
value of Rs 10 each to raise Rs 4,500 crore.
The
Kolkata-based private sector lender was mandated by the RBI to come out with an
IPO after three years of completion of banking operations after migrating from
microfinancing activity only.The Total
Investment & Insurance Solutions
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