Bandhan Bank to launch IPO
Bandhan Bank is planning to offer about 11.92 crore shares of face value Rs.10 each under its proposed IPO.
In its Draft Red Herring Prospectus (DRHP) filed with the Securities and Exchange Board of India, Bandhan said, the IPO will comprise a fresh issue of up to 9.8 crore equity shares and an offer-for-sale of up to 2.2 crore shares (1.4 crore shares by International Finance Corporation (IFC) and up to 75 lakh shares by IFC FIG Investment Company I).
Kotak Mahindra Capital, Axis Capital, Goldman Sachs (India) Securities, JM Financial Institutional Securities and JP Morgan India are the book-running lead managers for the IPO.
According to merchant banking sources, the issue, which is touted as the biggest banking sector IPO till date, is expected to raise over Rs.4,000 crore. The shares are proposed to be listed on the BSE and the NSE.