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Last Updated : Mar 14, 2018 10:29 PM IST | Source:

Bandhan Bank raises Rs 1,342 crore through anchor investors

The bank raised the amount by issuing 3,57,84,147 equity shares to 65 anchor investors at higher end of price band.

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Kolkata-based Bandhan Bank has garnered Rs 1,341.9 crore through anchor investors' portion on Wednesday before the issue opens.

The bank raised the amount by issuing 3,57,84,147 equity shares to 65 anchor investors at higher end of price band.

Anchor investors included Abu Dhabi Investment Authority, The Master Trust Bank Of Japan Ltd, Blackrock India Equities (Mauritius), HSBC Global Investment Funds - Indian Equity, National Westminster Bank Plc, East Bridge Capital Master Fund, White Oak India Equity Fund, Invesco India Equity Fund, DSP Blackrock Fund, UTI MF, ICICI Prudential, BNP Paribas Arbitrage, Fidelity Funds, Aditya Birla MF, Sundaram MF, IDFC MF, Citigroup Global Market Mauritius, Reliance Nippon Life Insurance Company etc.

The initial public offer of up to 11,92,80,494 equity shares will open for subscription on March 15. The price band is fixed at Rs 370-375 per share.

The offer consists of fresh issue of up to 9,76,63,910 shares, 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 private sector lender is expected to raise Rs 4,413.4 crore - Rs 4,473 crore at lower and upper end of price band, respectively.

Out of Rs 4,473 crore, the fresh issue money would be Rs 3,662.4 crore or 82 percent of total issue size and the balance amount of Rs 810.62 crore would go to the two selling shareholders.

The fresh issue proceeds would be used for augmenting bank's Tier-I capital base to meet its future capital requirements.

Further, the proceeds from the Issue will also be used towards meeting the expenses in relation to the issue.

The bank will not receive any proceeds from the offer for sale.

Bids can be made for a minimum lot of 40 shares and in multiples of 40 shares thereafter.

The issue will close on March 19.

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.
First Published on Mar 14, 2018 10:29 pm
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