Markets

Bandhan Bank's IPO launch date is March 15

Our Bureau Mumbai | Updated on March 09, 2018 Published on March 08, 2018

Big leap Chandra Shekhar Ghosh, MD & CEO, Bandhan Bank, along with Uday Kotak, Executive Vice-Chairman and MD, Kotak Mahindra Bank, and Shikha Sharma, MD &CEO, Axis Bank, at a press conference to announce Bandhan Bank’s IPO in Mumbai on Thursday. - PAUL NORONHA

The IPO to raise Rs 4,473-cr

Bandhan Bank Ltd, the newest among the private lenders, today said it will launch an IPO (initial public offering) of Rs 4,473 crore on March 15. The issue closes on March 19. The Kolkata-based bank, which transformed into a bank in 2015 from a micro-finance institution in 2001, will be selling up to 119.3 million shares in a price range of Rs 370-375 each in the IPO, according to a statement by the bank.

Kotak Mahindra Capital, Axis Capital, Goldman Sachs, JM Financial and J.P. Morgan are the banks managing the IPO. Bandhan will use the proceeds of the issue to expand its network to other parts of the country and also invest in technology, said Chandra Sekhar Ghosh, MD and CEO of Bandhan Bank. The bank will bring down the promoter holding to 82 per cent from 89 per cent post the IPO.

The Reserve Bank of India’s guidelines mandates banks to get listed within three years from the commencement of banking operations. Bandhan Bank started operations in August 2015. The bank is the first microfinance institution to receive universal banking licence in 2015.

Published on March 08, 2018

A letter from the Editor


Dear Readers,

The coronavirus crisis has changed the world completely in the last few months. All of us have been locked into our homes, economic activity has come to a near standstill. Everyone has been impacted.

Including your favourite business and financial newspaper. Our printing and distribution chains have been severely disrupted across the country, leaving readers without access to newspapers. Newspaper delivery agents have also been unable to service their customers because of multiple restrictions.

In these difficult times, we, at BusinessLine have been working continuously every day so that you are informed about all the developments – whether on the pandemic, on policy responses, or the impact on the world of business and finance. Our team has been working round the clock to keep track of developments so that you – the reader – gets accurate information and actionable insights so that you can protect your jobs, businesses, finances and investments.

We are trying our best to ensure the newspaper reaches your hands every day. We have also ensured that even if your paper is not delivered, you can access BusinessLine in the e-paper format – just as it appears in print. Our website and apps too, are updated every minute, so that you can access the information you want anywhere, anytime.

But all this comes at a heavy cost. As you are aware, the lockdowns have wiped out almost all our entire revenue stream. Sustaining our quality journalism has become extremely challenging. That we have managed so far is thanks to your support. I thank all our subscribers – print and digital – for your support.

I appeal to all or readers to help us navigate these challenging times and help sustain one of the truly independent and credible voices in the world of Indian journalism. Doing so is easy. You can help us enormously simply by subscribing to our digital or e-paper editions. We offer several affordable subscription plans for our website, which includes Portfolio, our investment advisory section that offers rich investment advice from our highly qualified, in-house Research Bureau, the only such team in the Indian newspaper industry.

A little help from you can make a huge difference to the cause of quality journalism!

Support Quality Journalism
This article is closed for comments.
Please Email the Editor
You have read 1 out of 3 free articles for this week. For full access, please subscribe and get unlimited access to all sections.