Bandhan Bank from micro finance to universal bank
Written by : SMTV24x7 | Tue, Jan 02, 2018, 12:32 AM
Kolkatta, Jan 02: Bandhan Bank filed draft papers with markets regulator Sebi on Monday for its initial public offer (IPO) to raise an estimated amount of over Rs 2,500 crore.
"Bandhan Bank Ltd has filed a Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) for its proposed initial public offering of up to 11,92,80,494 equity shares of face value of Rs 10 each," the lender said in a statement.
The IPO consists of a fresh issue of up to 9,76,63,910 equity shares and an offer for sale of up to 1,40,50,780 scrips by International Finance Corporation (IFC) and up to 75,65,804 shares by IFC FIG Investment Company.
Kotak Mahindra Capital Company Ltd, Axis Capital Ltd, Goldman Sachs (India) Securities Pvt Ltd, JM Financial Institutional Securities and JP Morgan India Private Ltd are the book running lead managers to the issue.
Bandhan Bank is the first instance in India when a micro-finance entity transforming into a universal bank.