Bandhan Bank IPO receives overwhelming response

The IPO of Bandhan Bank Limited received an overwhelming response from both retail and institutional investor community. The bank's Rs. 4,500 crore IPO was subscribed 518 per cent on its closing day.

At 15:00 hours, the IPO which will close on Monday, March 19, was subscribed 5.18 times. For the total issue size of 8,34,96,347 equity shares, a total bids of 43,24,70,800 were received. Of the total bids, 3,55,46,520 shares were received at cut-off price.

Earlier, the Anchor Investors (AIs) portion in the IPO which consisted of 35,784,147 equity shares were subscribed by 65 AIs at Rs. 375 per share. AIs subscribing for 3 per cent portion were Abu Dhabi Investment Authority – Behave, Aditya Birla Sun Life Advantage Fund, Amansa Holdings Private Limited, ICICI Prudential Banking & Financial Services Fund, Neuberger Berman Emerging Market Strategy, Nomura Fund Ireland - India Equity Fund. Other major investors included Wells Fargo Emerging Markets Equity Fund, BNP Paribas Arbitrage, Blackrock India Equities (Mauritius) Limited, Threadneedle Investment Funds Icvc Asia Fund, HSBC Global Investment Funds.