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Bandhan Bank to raise over Rs 2,500 crore via IPO

Last Updated 01 January 2018, 15:38 IST

Kolkata-based private sector lender Bandhan Bank  on Monday filed draft papers with markets regulator Sebi for its IPO to raise an estimated amount of over Rs 2,500 crore.

"Bandhan Bank Ltd has filed a Draft Red Herring Prospectus with the Sebi for its proposed initial public offering of up to 11,92,80,494 equity shares of face value of Rs 10 each," the lender said in a statement.

The IPO consists of a fresh issue of up to 9,76,63,910 equity shares and an offer for sale of up to 1,40,50,780 scrips by International Finance Corporation (IFC) and up to 75,65,804 shares by IFC FIG Investment Company. The issue is expected to raise over Rs 2,500 crore, merchant banking sources said. The equity shares are proposed to be listed on the BSE and NSE. Kotak Mahindra Capital Company Ltd, Axis Capital Ltd, Goldman Sachs (India) Securities Pvt Ltd, JM Financial Institutional Securities and J P Morgan India Private Ltd are the book running lead managers to the issue.

Bandhan Bank is the first instance in India when a micro-finance entity transforming into a universal bank.

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(Published 01 January 2018, 15:34 IST)

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