Bandhan Bank to launch up to Rs 4,473 cr IPO

Kolkata-based Bandhan Bank  on Thursday  said it will launch an initial public offering (IPO) of up to Rs 4,473 crore 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 World Bank-controlled 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 said.

Liked the story?

  • 0

    Happy
  • 0

    Amused
  • 0

    Sad
  • 0

    Frustrated
  • 0

    Angry