Bandhan Bank to offer 11.9 crore shares in IPO

IPO

City-based Bandhan Bank Limited today said it has filed the Draft Red Herring Prospectus with market regulator SEBI for an Initial Public Offer (IPO) next fiscal offering 11.9 crore equity shares.

In a statement, the bank said it proposes to offer up to 119,280,494 equity shares of face value of Rs 10 each at a price to be determined through a book building process including premium.

The IPO will consist of a fresh issue of up to 97,663,910 equity shares and an Offer for Sale of up to 14,050,780 equity shares by International Finance Corporation (IFC) and up to 7,565,804 equity shares by IFC FIG Investment Company, the bank said.

The equity shares are proposed to be listed on the BSE and NSE.

The book running lead managers to the issue are Kotak Mahindra Capital Company Limited, Axis Capital Limited, Goldman Sachs (India) Securities Private Limited, J M Financial Institutional Securities Limited and J P Morgan India Private Limited.