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Bandhan Bank IPO is a book built issue of Rs 4,473.02 crores. The issue is a combination of fresh issue of 9.77 crore shares and offer for sale of 2.16 crore shares.
Bandhan Bank IPO bidding started from March 15, 2018 and ended on March 19, 2018. The allotment for Bandhan Bank IPO was finalized on Thursday, March 22, 2018. The shares got listed on BSE, NSE on March 27, 2018.
Bandhan Bank IPO price band is set at ₹370 to ₹375 per share. The minimum lot size for an application is 40 Shares. The minimum amount of investment required by retail investors is ₹15,000.
Axis Bank Limited, Goldman Sachs (India) Securities Private Limited, J.P. Morgan India Private Limited, Jm Financial Limited and Kotak Mahindra Capital Company Limited are the book running lead managers of the Bandhan Bank IPO, while Kfin Technologies Limited is the registrar for the issue.
Refer to Bandhan Bank IPO RHP for detailed information.
| IPO Date | March 15, 2018 to March 19, 2018 |
| Listing Date | March 27, 2018 |
| Face Value | ₹10 per share |
| Price Band | ₹370 to ₹375 per share |
| Lot Size | 40 Shares |
| Total Issue Size | 119,280,494 shares (aggregating up to ₹4,473.02 Cr) |
| Fresh Issue | 97,663,910 shares (aggregating up to ₹[.] Cr) |
| Offer for Sale | 21,616,584 shares of ₹10 (aggregating up to ₹[.] Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 1,095,141,034 |
| Share holding post issue | 1,192,804,944 |
Bandhan Bank IPO offers 83,496,347 shares. 23,856,099 (28.57%) to QIB, 17,892,075 (21.43%) to NII, 41,748,173 (50.00%) to RII. 1,043,704 RIIs will receive minimum 40 shares and (sNII) and (bNII) will receive minimum 560 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | - | NA |
| QIB Shares Offered | 23,856,099 (28.57%) | NA |
| NII (HNI) Shares Offered | 17,892,075 (21.43%) | |
| Retail Shares Offered | 41,748,173 (50.00%) | 1,043,704 |
| Total Shares Offered | 83,496,347 (100%) |
Bandhan Bank IPO opens on March 15, 2018, and closes on March 19, 2018.
| IPO Open Date | Thursday, March 15, 2018 |
| IPO Close Date | Monday, March 19, 2018 |
| Basis of Allotment | Thursday, March 22, 2018 |
| Initiation of Refunds | Friday, March 23, 2018 |
| Credit of Shares to Demat | Monday, March 26, 2018 |
| Listing Date | Tuesday, March 27, 2018 |
| Cut-off time for UPI mandate confirmation | 5 PM on March 19, 2018 |
Investors can bid for a minimum of 40 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 40 | ₹15,000 |
| Retail (Max) | 13 | 520 | ₹195,000 |
| Lot Size Calculator | |||
Incorporated in 2014, Bandhan Bank Limited is Kolkata, West Bengal based commercial bank focused on micro banking and general banking services. Bandhan Bank has a license to provide banking services pan-India across customer segments. Bank offer a variety of asset and liability products and services designed for micro banking and general banking, as well as other banking products and services to generate non-interest income.
With the a network of 2,546 doorstep service centres (DSCs) and 9.47 million micro loan customers, the bank has strong very hold in microfinance. Bandhan bank has 864 bank branches and 386 ATMs serving over 1.87 million general banking customers. Banks distribution network is strong in East and Northeast India, with West Bengal, Assam and Bihar.
Bandhan Bank Products:
1. Retail loans including micro loans, SME loans and small enterprise loans
2. Savings accounts, current accounts and a variety of fixed deposit accounts
3. Other banking products and services including debit cards, internet banking, mobile banking, EDC-POS terminals, online bill payment services and the distribution of third-party general insurance products and mutual fund products.
Bandhan Bank Strengths:
1. Operating Model Focused on Serving Underbanked and Underpenetrated Markets (microfinance)
2. Consistent Track Record of Growing a Quality Asset and Liability Franchise
3. Extensive, Low Cost Distribution Network
4. Provide accessible, simple, cost-effective and innovative financial solutions
5. Robust Capital Base
6. Maintaining focus on micro lending while expanding further into other retail and SME lending
| Particulars | For the year/period ended (in Rs. million) | |||||
|---|---|---|---|---|---|---|
| 31-Mar-17 | 31-Mar-16 | 31-Mar-15 | ||||
| Total Assets | 302,360.90 | 197,565.00 | 5,268.88 | |||
| Total Revenue | 43,201.23 | 17,312.54 | 79.53 | |||
| Profit After Tax | 11,119.52 | 2,752.47 | 5.76 | |||
The Issue comprises of a Fresh Issue and an Offer for Sale.
Fresh Issue
The object of the fresh issue is to augment Bank's Tier-I capital base to meet Bank's future capital requirements.
Offer for Sale
The Selling Shareholders will be entitled to the respective portion of the proceeds of the Offer for Sale.
[Dilip Davda] Although current market sentiment on finance sector in doldrums, this bank has nothing of that sort and is having a niche play in micro financing where it will continue to dominate. Investment may be considered for short to long term. Read detail review...
The Bandhan Bank IPO is subscribed 14.56 times on March 19, 2018 4:00:00 PM. The public issue subscribed 1.06 times in the retail category, 38.68 times in the QIB category, and 13.89 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 38.68 |
| NII | 13.89 |
| Retail | 1.06 |
| Total | 14.56 |
| Listing Date | March 27, 2018 |
| BSE Script Code | 541153 |
| NSE Symbol | BANDHANBNK |
| ISIN | INE545U01014 |
| Final Issue Price | ₹375 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹375.00 |
| ₹485.00 |
| ₹455.00 |
| ₹498.40 |
| ₹477.20 |
| NSE |
|---|
| ₹375.00 |
| ₹499.00 |
| ₹455.00 |
| ₹499.00 |
| ₹476.85 |
Bandhan Bank Limited
DN 32, Sector V,
Salt Lake,
Kolkata 700 091
Phone: 033 6609 0909
Email: investors@bandhanbank.com
Website: https://www.bandhanbank.com/
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: bandhanbank.ipo@karvy.com
Website: https://kosmic.kfintech.com/ipostatus/
Bandhan Bank IPO is a main-board IPO of 119,280,494 equity shares of the face value of ₹10 aggregating up to ₹4,473.02 Crores. The issue is priced at ₹370 to ₹375 per share. The minimum order quantity is 40 Shares.
The IPO opens on March 15, 2018, and closes on March 19, 2018.
Kfin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
The Bandhan Bank IPO opens on March 15, 2018 and closes on March 19, 2018.
Bandhan Bank IPO lot size is 40 Shares, and the minimum amount required is ₹15,000.
You can apply in Bandhan Bank IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Bandhan Bank IPO will be done on Thursday, March 22, 2018, and the allotted shares will be credited to your demat account by Monday, March 26, 2018. Check the Bandhan Bank IPO allotment status.
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