Bandhan Bank All Set for IPO

Kolkata-based lender Bandhan Bank will be raising up to about Rs 4,473.75 crore from the public through sale of 11.93 crore equity shares, making it one of the biggest IPOs (initial public offering) by a local private sector bank.

The price band of the much-awaited IPO has been finalised at Rs 370-375 per share and the bid would remain open from March 15 to 19. Equity shares of Bandhan Bank are proposed to be listed on both the NSE and BSE, the bank announced  in the presence of bank heads Uday Kotak and Shikha Sharma. Both their investment banking arms - Kotak Mahindra Capital Company Ltd, Axis Capital Ltd - are merchant bankers for its IPO.