The initial public offer (IPO) of Bandhan Bank has been oversubscribed 14.59 times so far on the final day of bidding Monday.
The Rs 4,473-crore IPO has received bids for 121.81 crore equity shares against the total offer size of 8.35 crore shares, as per data available on the NSE website.
The reserved portion of qualified institutional buyers has oversubscribed 38.67 times while the portion set aside for non-institutional investors has seen subscription of 13.89 times and retail 1.13 times.
Kolkata-based private sector lender Bandhan Bank has put on offer up to 11,92,80,494 equity shares for sale, including fresh issue of up to 9,76,63,910 equity shares.
The IPO also consists of an offer for sale of up to 1,40,50,780 equity shares by IFC and up to 75,65,804 equity shares by IFC FIG.
The bank is aimed to raise Rs 4,413.4 crore - Rs 4,473 crore at a price of Rs 370-375 per share, respectively.
Out of total fund raising, the bank already raised Rs 1,342 crore by issuing 3,57,84,147 equity shares to 65 anchor investors at Rs 375 per share on Wednesday.
The fresh issue proceeds would be utilised for augmenting bank's Tier-I capital base to meet its future capital requirements and meeting the expenses in relation to the issue.
The bank will not receive any proceeds from the offer for sale.
Kotak Mahindra Capital Company, Axis Capital, Goldman Sachs (India) Securities, JM Financial and JP Morgan India are book running lead managers to the issue. Karvy Computershare is the registrar to the issue. The equity shares are proposed to be listed on the BSE and the NSE.
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