Bandhan Bank makes strong market debut; lists at 33% premium over issue price

Kolkata, March 27: Shares in Indian private sector lender Bandhan Bank Ltd rose as much as 33 percent in their trading debut on Tuesday after its Rs 4473 Cr initial public offering. There is a listing of another share in the market today. On the NSE, the shares of Bandhan Bank are listed at a price of Rs 499 per share. The issue price of the Bandhan bank for the listing was fixed at Rs 375 per share.

On the NSE after the listing, the shares of Bandhan Bank have seen a decline. Binding Bank's issue was open from March 15 to 19. From the issue, the company has raised Rs 4,470 crore.

In a tweet by the bank, it said “It’s opening bell time for Bandhan Bank at @BSEIndia. Mr. Chandra Shekhar Ghosh did the honors on this landmark day for the Bank.”

Bandhan Bank is a Private Sector Bank located in Kolkata. The bank started with a micro finance business in 2001 and got a banking license in 2015. Started banking business from August 2015. Bandhan Bank has 12 million subscribers and the bank has 98 lakh micro-loan customers. Bandhan Bank has 21 lakh General Banking customers.

The IPO, which is the biggest for an Indian bank, had been subscribed nearly 15 times, driven by strong demand from institutional investors.