Bandhan Bank has set a price band of Rs370-375 per share for its IPO. Photo: MintKolkata: The initial public offer (IPO) of Bandhan Bank was oversubscribed 14.56 times, eliciting good response from qualified institutional placement (QIP) and high net worth individual (HNI) investors, a top official of the bank said. Bandhan Bank’s managing director and chief executive officer Chandra Shekhar Ghosh told PTI that oversubscription on account of QIP was 38.67 times and that of HNI investors was 13.89 times. Retail oversubscription was 1.05 times which is going to rise further and applications received on this count was approximately 10 lakh, Ghosh said. The success of the issue showed the people has accepted the Bandhan Bank model,” Ghosh said.

Source: Mint March 19, 2018 06:00 UTC