Bandhan Bank IPO lists on the stock market at 33% premium, share price at Rs 499

New Delhi: The shares of Bandhan Bank were listed on the bourses on Tuesday. The bank was listed on both on NSE and BSE. The scrips of the bank listed at Rs 499, making the premium as 33.07 per cent on the issue price of Rs 375. The stock was up 27 per cent with a value of Rs 475.95 at 11 am. The broader market was up about 0.40 per cent.

Before the listing, the Bandhan Bank IPO was offered for subscription. The IPO was oversubscribed 14.6 times and was valued at Rs 4,473. It was the largest by any bank in India.

C S Ghosh, MD and CEO of Bandhan Bank, told news agency PTI that he was expecting an energetic response from the market as the IPO was well received retail individuals and investors.

The book-running lead managers to the issue are JM Financial Institutional Securities, Kotak Mahindra Capital Company Ltd, Goldman Sachs (India) Securities Pvt Ltd, Axis Capital Ltd, and J P Morgan India Private Ltd.

Bandhan Bank was incorporated on December 23, 2014. The operations began on August 23, 2015, when Bandhan Financial Services Limited (BFSL), the parent company, handed over its microfinance business to Bandhan Bank.