Bandhan Bank soars in trading debut after USD 691 million IPO
By Reuters | Published: 27th March 2018 10:14 AM |
Last Updated: 27th March 2018 10:14 AM | A+A A- |
A man leaves an automated teller machine (ATM) facility of Bandhan Bank in Kolkata, March 8, 2018. (Photo: Reuters)
MUMBAI: Shares in Indian private sector lender Bandhan Bank Ltd rose as much as 33 percent in their trading debut on Tuesday after its $691 million initial public offering.
By 0430 GMT, the shares were trading at 461.35 rupees, 23 percent higher than the IPO issue price of 375 rupees.
The IPO, which is the biggest for an Indian bank, had been subscribed nearly 15 times, driven by strong demand from institutional investors.
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