Bandhan Bank raised Rs 1,342 crore from anchor investors, ahead of its initial share-sale. The anchor investor issue fetched Rs 1,341.91 crore after allotment of 3.57 crore shares to 65 anchor investors at a price of Rs 375 per share. Among the anchor investors are Abu Dhabi Investment Authority - Behave, Blackrock India Equities (Mauritius), HSBC Indian Equity Mother Fund, UTI - Mastershare Unit Scheme, BNP Paribas Arbitrage, Amansa Holdings and Tata Balanced Fund.
The price band for the initial public offer (IPO), which will close on March 19, has been fixed at Rs 370-375 per equity share. The issue is expected to raise Rs 4,473 crore.
Bandhan Bank's IPO comprises fresh issue of up to 9,76,63,910 equity shares and an offer for sale of up to 1,40,50,780 scrips by International Finance Corporation (IFC) and up to 75,65,804 shares by IFC FIG Investment Company.
The equity shares are proposed to be listed on BSE and NSE.
Kotak Mahindra Capital Company Ltd, Axis Capital Ltd, Goldman Sachs (India) Securities Pvt Ltd, JM Financial Institutional Securities and J P Morgan India Private Ltd are the book-running lead managers to the issue.
Bandhan Bank is the first instance in India when a micro-finance entity is transforming into a universal bank. In April 2014, the Reserve Bank of India (RBI) had granted banking license to Bandhan Financial Services as well as IDFC.