The initial public offer (IPO) of Bandhan Bank, which closed on Monday, was subscribed 14.62 times till 7 p.m. While the institutional portion was subscribed 38.67 times, the part reserved for high net worth individuals was subscribed 13.89 times.
The retail portion, however, was subscribed 1.18 times. Bids for a total of 122.07 crore shares were received as against 8.35 crore shares on offer in the price band of ₹370-₹375. At the top end of the band, the lender could raise ₹4,400 crore. More than 10 lakh applications were received from investors in the public issue. The issue comprises a fresh issue of 9.77 crore equity shares and offer for sale of 2.16 crore equity shares, including an anchor portion of 3.58 crore equity shares. The merchant bankers managing the issue are Kotak Mahindra Capital, Axis Capital, Goldman Sachs (India) Securities, JM Financial, and J.P. Morgan India.
