Shares of Bandhan Bank were trading at Rs 464.70 at 10:31 IST on BSE, a premium of 23.92% over the issue price of Rs 375 on its debut on the bourses today, 27 March 2018.
Meanwhile, the S&P BSE Sensex was up 100.07 points or 0.3% at 33,166.48
Shares of Bandhan Bank listed on the BSE at Rs 485, a premium of 29.33% over the issue price of Rs 375. The stock had hit a high of Rs 494.80 and low of Rs 455 so far during the day. So far, 74.23 lakh shares were traded on the counter on the BSE.
The initial public offer (IPO) of Bandhan Bank received bids for 122.15 crore shares, the National Stock Exchange of India (NSE) data showed. The issue was subscribed 14.63 times. The price band for the IPO was Rs 370 to Rs 375 per share. The IPO had opened on 15 March 2018 and closed on 19 March 2018.
Category-wise subscription details showed that the qualified institutional buyers (QIBs) category was subscribed 38.67 times, the non-institutional investors category was subscribed 13.89 times and the retail individual investors (RIIs) category received subscription of 1.20 times.
Ahead of the opening of the issue, the bank's board in a meeting held on 14 March 2018, finalized allocation of 3.57 crore equity shares in aggregate to a slew of anchor investors, including many domestic and foreign funds, at Rs 375 per share.
The bank reported a net profit of Rs 957.70 crore on net total income of Rs 2671.64 crore in the nine months ended 31 December 2017.
Bandhan Bank is a commercial bank focused on serving underbanked and underpenetrated markets in India. The bank currently offers a variety of asset and liability products and services designed for micro banking and general banking, as well as other banking products and services to generate non-interest income.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
RECOMMENDED FOR YOU