Bandhan Bank Shares Up 33% on Market Debut
India's Bandhan Bank surging 33 percent against the issue price of Rs 375 on the first day of its debut. At the end of the day, the stock listed at Rs 477 on BSE and 476 on NSE.
The stock has a sharp gain of 29.33 and 33 percent from the issue price on BSE & NSE.
The Kolkata based company has a market valuation of Rs 56,914.69 crore. The IPO of Bandhan bank was subscribed 14.62 times during its listings.
The fixed price of the company share was Rs 370 to 375 during the listing. The issue opened on March 15 and continued till March 19.
Goldman Sachs (India) Securities, JM Financial and JP Morgan India, Kotak Mahindra Capital Company and others managed the issue.
The bank proposed to raise Rs 4500 crore from the IPO. The network of the bank has grown to 864 bank branches a...