Bandhan appoints five merchant bankers for IPO

Bandhan Bank had posted Rs 1,111.95 crore in net profit for the FY18

Kolkata-based Bandhan Bank on Tuesday said it had appointed Goldman Sachs, JPMorgan Chase, Axis Bank, JM Financial and Kotak Mahindra Bank as merchant bankers for its initial public offering (IPO).

The size of the share sale, its timing and other related aspects has not been finalised as yet, Bandhan Bank said in a statement. The bank had initiated its listing process last month. However, the final decision on the proposed IPO will be subject to all regulatory approvals, it said.

According to the Reserve Bank of India’s (RBI’s) guidelines, banks have to list their business within three years of operation. Bandhan Bank