Bandhan bank's rs 44 bn ipo opens expert views on why you should subscribe

Bandhan Bank's Rs 44-bn IPO opens: Expert views on why you should subscribe

Bandhan Bank IPO opens today uplift to Rs 44 billion; Will you subscribe? on Business Standard. Bandhan Bank IPO opened subscription with price band of Rs 370-375 per share. The private sector lender is expected to raise Rs 44.13 billion - Rs 44.73 billion at lower. Know more on Bandhan Bank IPO news.

Market News The Bandhan Bank initial public offering (IPO) opened for subscription on Thursday, at a price band of Rs 370-375 a share. The issue will close on March 19.

The private sector lender is expected to raise Rs 44.13 billion at the lower and Rs 44.73 billion at the upper end of the price band. The bank has put on offer up to 119,280,494 equity shares, including a fresh issue of up to 97,663,910 equity shares.

The IPO also consists of an offer for sale of up to 14,050,780 equity shares by IFC and up to 7,565,804 equity shares by IFC FIG. Bids can be made for a minimum lot of 40 shares and in multiples of 40 shares thereafter.

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.

Should you subscribe to the Bandhan Bank IPO? Here’s what some brokerages recommend: IIFL Reco: Subscribe Bandhan Bank IPO was able to ride the recent MFI crisis smoothly unlike NBFC-MFIs. So in the current form, it is a robust and resilient micro loan financier with great growth prospects. The bank would likely be able to sustain RoA and RoE near the 4% and

25% mark respectively. We believe long term investors would find post-money valuation at 4.8x P/BV reasonably attractive. A comparable benchmark for valuation would be the recent IndusInd Bank-Bharat Fin transaction wherein the former valued the latter at ~5.2x FY18 P/BV.

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