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Bandhan Bank IPO oversubscribed 14.62 times

The IPO of Bandhan Bank got subscribed by 14.62 times on the third and final day of the bidding process on Monday. The IPO received bids for 1,22,10,47,920 shares as against the total issue size of 8,34,96,347. The QIB quota saw 38.68 times subscription, while the NII category was subscribed 13.89 times and Retail Institutional Investors saw 1.19 times subscriptions. The IPO comprised a fresh issue of 9,76,63,910 shares, an offer for sale for up to 14,050,780 shares by World Bank-controlled International Finance Corp and up to 7,565,804 by IFC FIG Investment Co. The price band was fixed between Rs 370 and Rs 375 per share, with a face value of Rs 10 each. The entire proceeds of the offer would be utilized for capital requirements.

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