India stands out on the global stage for fund raising through IPOs. The future looks promising too.

As many as 23 banks, public and private alike, may face penalties with retrospective effect if they are unable to ensure eight Aadhaar enrolments or updations per branch per day from November

These firms' market value has taken a hit due to lack of interest from retail investors, qualified institutional investors, and anchor investors keeping participation in the issue to the minimum. 

During January-June this year, 18 companies have collectively raised Rs 23,670 crore through their respective IPOs, which is higher than Rs 12,000 crore garnered by 13 issuers in the first six months of 2017, according to an analysis of data available with the stock exchanges.

Indian stock exchanges accounted for 5 per cent of global proceeds in the January-June period.

Of these three dozen firms, most of these companies plan to utilise initial public offer (IPO) proceeds for business expansion as well as working capital requirements, as per the draft papers filed with the Securities and Exchange Board of India.

The primary market emerged as a money spinner for investors in 2017-18, with 65 per cent of the newly listed companies trading well above their issue prices, giving returns of up to three times.

The company had filed its DRHP in September 2009 to raise about Rs 2,800 crore. It had received Sebi's nod in January 2010, but later shelved its plan to launch the initial public offering (IPO) due to bad market conditions post the global financial crisis.

Dalal Street is abuzz with the strong debut of Bandhan Bank today. The stock of the private sector lender was trading at over Rs 497 on the BSE at 2.20 pm, compared with the issue price of Rs 375 per share. That's a neat 33% premium. No wonder investment advisors are excited about its prospects.

At 10:32 am, the Bandhan Bank stock was trading 23.60% percent or 88 points higher at 463 level on BSE. On the NSE, the stock was trading at 462 level, up 23% from its issue price.

Retail investors placed bids for 12 per cent of their portion size of the IPO. The IPO received bids for 3,50,05,200 shares against the total issue  size of 8,34,96,347 shares, data available with the NSE till 1730 hrs showed.

On Wednesday, the lender raised Rs 1,342 crore from anchor investors, ahead of its initial share-sale. The anchor investor issue fetched Rs 1341 .91 crore after allotment of 3.57 crore shares to 65 anchor investors at a price of Rs 375 per share.

The price band for the initial public offer (IPO), whichwill close on March 19, has been fixed at Rs 370-375 per equity share. The issue is expected to raise Rs 4,473 crore.

A majority of Bandhan Bank's funding is from deposits. As of December 31, 2017, the bank had a CASA ratio of 33.22%. CASA ratio is the ratio of deposits in current and saving accounts to total deposits. A higher CASA ratio indicates a lower cost of funds for banks.